0
Medical and dental expense greater than 7.5% of your adjusted gross income; Interest payments on your Home mortgage; property taxes for your home and car; charitiable giving; and certain unreimbursed business expenses. Generally if you do not have very large medical bills or own a home, then you probably are better off taking the standard deduction.
What else can I help you with?
Can you claim taxes of grocery receipts?
If you itemize deductions on your federal income tax return, you have the choice of claiming a deduction either for state income taxes or state sales taxes (but not both). Sales taxes would include those for groceries. Note that this is a deduction, not a refund or credit.
Can NYC tax withholding be claimed on my tax returns?
If you itemize on your federal income tax return, City and State income taxes paid are deductible on your return.
How do you write off charity donations on your taxes?
If you would like to write off charity donations on your taxes be sure you have all receipts and a flawless record of your donations. When you file your taxes itemize the deductions on the appropriate page. If you are unsure how to fill out a tax form get help from a tax professional.
Can state sales tax be deducted from your taxes?
According to the IRS, if you itemize deductions on your federal return you may deduct either state and local incometaxes or state and local sales taxes. You get to choose which to deduct, but you may not deduct both, and you can't deduct either unless you itemize deductions.Chances are pretty good that unless your state has low income tax rates and fairly high sales tax rates, you'll be better off deducting the income taxes instead, but you do have the option.
Is state income tax an optional deduction?
State income tax is generally considered an optional deduction on your federal tax return if you choose to itemize your deductions. Taxpayers can either deduct state and local income taxes or state and local sales taxes, but not both. If you take the standard deduction, you cannot deduct state income tax. Therefore, whether or not it is optional depends on your choice to itemize versus take the standard deduction.
Can you claim donations on your taxes?
Yes, you can claim donations on your taxes if you itemize your deductions on your tax return.
Can I deduct state taxes from my federal taxes?
Yes, you can deduct state taxes from your federal taxes if you itemize your deductions on your federal tax return.
Can you claim real estate taxes on your taxes?
Yes, you can claim real estate taxes on your taxes as a deduction if you itemize your deductions on your tax return.
Can you deduct charitable contributions in 2022 on your taxes?
Yes, you can deduct charitable contributions on your taxes in 2022 if you itemize your deductions.
If I don't itemize can I still claim per diem I am a OTR driver?
Apparently not. We just got our taxes done and they said we had to itemize. GRRR... Hope that helps.
Is it possible to claim your property taxes if making below 10000.00?
Sure. If you itemize you can claim your full property taxes. And this is new for 2008: If you don't itemize, you can claim $500 of property taxes ($1000 if married filing jointly). See the instructions for line 40 of 2008 Form 1040.
Can I deduct taxes paid for the previous year on my tax return?
Yes, you can deduct taxes paid for the previous year on your tax return if you itemize your deductions.
Can I deduct therapy expenses on my taxes?
Yes, you may be able to deduct therapy expenses on your taxes if they are considered necessary medical expenses and you itemize your deductions.
Can you write off property taxes in California on your tax return?
Yes, you can write off property taxes in California on your tax return as long as you itemize your deductions.
Tell me the truth about interest payment deductions on filing taxes?
If you itemize, you can deduct mortgage interest and investment interest.
What is hr online taxes?
Hr online is a site where you can file your taxes online, you can trust that your personal information will be safe, and you can learn how to itemize your deductions, without having complications from the IRS.
Should you file standard deduction or ez file to do your taxes?
You should only itemize if you have some deductions you can claim-are a homeowner for example.
