answersLogoWhite

0

To take off taxes, you can typically deduct eligible expenses from your taxable income, which reduces the amount of income that is subject to taxation. Common deductions include mortgage interest, student loan interest, medical expenses, and charitable contributions. Additionally, you can take advantage of tax credits, which directly reduce the amount of tax owed. It's important to keep accurate records and consult tax laws or a tax professional to maximize your deductions and credits.

User Avatar

AnswerBot

3w ago

What else can I help you with?

Continue Learning about Accounting
Related Questions

What happens if you are being sued for town taxes?

You should arrange to pay off the delinquent taxes as soon as possible. If they are not paid the town will take possession of your property and sell it to a new owner.You should arrange to pay off the delinquent taxes as soon as possible. If they are not paid the town will take possession of your property and sell it to a new owner.You should arrange to pay off the delinquent taxes as soon as possible. If they are not paid the town will take possession of your property and sell it to a new owner.You should arrange to pay off the delinquent taxes as soon as possible. If they are not paid the town will take possession of your property and sell it to a new owner.


Can you do an amendment on your 2009 taxes and take a child off so the other parent can claim him?

No


Can you take the difference off taxes between what the IRS pays for gas mileage and what your company pays?

You can in the UK


What happens when inherited property is sold for taxes?

If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.If the heirs want to keep the property they must pay off all the delinquent taxes, interest and costs. If not, the town will take possession of the property and sell it to a new owner.


How long do you have to be in bankruptcy before they take your taxes?

"Take your taxes"? Do you really mean "take your tax refunds, if there are any"?


What is the teachers salary per year?

teachers make 51,000 dollars a year, but when taxes are taken off they take home 32,000


How long does it take if you have a federal offset due to child support to get your taxes back?

As soon as it's paid off it reverts back to you.


How long does it take to receive a refund off a amended taxes?

Forever it seems. I have been waiting over a year. I filed a 1040x for my 2009 taxes in March of 2011 and have yet to receive my adjusted refund.


Do food stores take out taxes?

Same as all businesses..they must charge and payover sales taxes as appropriate and "take out" taxes from employees.


Can fed take my taxes if i owe state?

if i owe federal taxes will they take my state refund


Does pay-pal take taxes out of payments made to you?

No,paypal does not take taxes out of payments made to you


What are differed taxes?

I think you mean "deferred taxes." These are taxes that do not have to be paid immediately but can be put off to a future time.