Yes, you can typically deduct 401k contributions from your taxable income when filing your taxes, which can lower your overall tax liability.
No, you cannot deduct Roth IRA contributions on your taxes because they are made with after-tax money.
No, you cannot deduct Roth IRA contributions on your taxes because they are made with after-tax money.
Yes, you can typically deduct traditional IRA contributions from your taxable income when filing your taxes, which can lower your overall tax bill.
No, you generally cannot use your 401k to directly pay off your mortgage without facing penalties and taxes.
You can write off up to 3,000 per child for daycare expenses on your taxes.
No, you cannot deduct Roth IRA contributions on your taxes because they are made with after-tax money.
No, you cannot deduct Roth IRA contributions on your taxes because they are made with after-tax money.
Yes, you can typically deduct traditional IRA contributions from your taxable income when filing your taxes, which can lower your overall tax bill.
No, you generally cannot use your 401k to directly pay off your mortgage without facing penalties and taxes.
You can write off almost any donation on your taxes. Junk car donation is also something that you can write off.
You can write off up to 3,000 per child for daycare expenses on your taxes.
You can withdraw money from your 401k to pay off your house, but it may come with penalties and taxes. It's important to consider the long-term impact on your retirement savings before making this decision.
No
No, you cannot write off gift cards on your taxes as they are considered a personal expense and not a deductible business expense.
Yes, you can typically write off gas as a business expense on your taxes if you use your vehicle for business purposes.
Yes, you can write off property taxes in California on your tax return as long as you itemize your deductions.
No, you cannot write off discounts on your taxes. Discounts are not considered taxable income, so they cannot be deducted on your tax return.