Posts Tagged ‘tax deductions’
when does the IRS withhold garnished wages from the employee, is it before or after tax deductions?
Posted by admin in US Tax Questions on January 16th, 2011
My friend found on his check stub that it said "ATT1" under after-tax deductions. He’s wondering if his wages are garnished? Would it be under "tax dedutions"? or under "after-tax deductions"?
Where can I donate my huge 30-32 inch tv to any organization or charity and get some tax deductions from it?
Posted by admin in US Tax Questions on January 10th, 2011
I have a huge tv, want to donate it to get some tax deductions of my yearly tax paperworks. Where can I donate it for charitable causes? I live at NY, queens. I cant really move it, its bulky and huge. And, I can’t sell it, cuz everyone wants flat screen HD/BLU ray TVS now. Thanks in advance for all the answers.
To those one the right: Why not simply deepen tax deductions for the behaviors we want?
Posted by admin in US Tax Questions on January 3rd, 2011
Since you frame taxes as an absolute dilemma between jobs and no jobs, why not simply deepen tax deductions for the good behaviors we would like to see? That way no one can claim that the government is taking money that would otherwise go to company spending. How does that sound?
what tax deductions can I take on a non homestead house?
Posted by admin in US Tax Questions on December 28th, 2010
If I already own a house that is paid for, and purchase a second house for myself (not rent out), what tax deductions can I take?
I have a Question about Rental Tax deductions.?
Posted by admin in US Tax Questions on December 15th, 2010
Basic Facts:
I own a duplex and live in one half.
I charge 0 for rent for a total of ,600.
My Tax Bracket is 25% so my taxes are ,400
With Depreciation(,000), Interest (,000), Expences( ,000), Advertising(0) etc($). I have spent well over ,000
I make around ,000 at my personal job
My Questions:
Can I take the overage (tax deductions) and apply it towards my personal taxes that I will owe?
I am hoping to get a good return this year! Any adivce is appreciated! I can edit and add to this question if you have questions for me! P.S. I do my own taxes…I use turbo tax, and this is the 1st full year of having the duplex, last year H & R Block did them and the lady didn’t know much about rentals so I didn’t get much help…but I paid 0! Won’t be doing that again!
Very Good and Detailed answers!
When your payroll check is done, are the taxes calculated on total earnings – even with pre-tax deductions?
Posted by admin in US Tax Questions on December 15th, 2010
I have pre-tax medical and retirement taken out but when I calculate out how much of my total gross I take home, the percentages indicate the taxes are being calculated on total earnings, not the total after pre-tax deductions. I thought that was the benefit of pre-tax deductions – you didn’t get taxed on it. If anyone knows of the legal writings for payroll practices, I would like to know, thanks.
Are there any special tax deductions available to HIV+ people?
Posted by admin in US Tax Questions on December 8th, 2010
Are there any tax deductions made available to HIV+ people or people living with AIDS? Specifically in relation to medical expenses, etc…?
Is it ethical for a well-off family to get tax deductions for their kids?
Posted by admin in US Tax Questions on December 2nd, 2010
Taxes are big topic of conversation in the US. One issue – if a given amount of money must be taken in by the treasury and people who are well off (say > ,000/y) get tax deductions for their kids, it means other people who don’t have kids have to pay more. Is this ethical? Please don’t equate being ethical with being legal.
Is is possible to take tax deductions for my high speed internet if I use it for work?
Posted by admin in US Tax Questions on November 10th, 2010
I have Comcast cable internet, and I had gotten it hooked up towards the end of July for the sake of using it with my job. I work for an IT help desk company that handles over the phone support for various clients. I use my internet with a VOIP client to help the clients. Can I take any tax deductions for my high speed internet as a business expense?
Is there any Tax deductions or Financial aids for such businesses?
Posted by admin in US Tax Questions on October 28th, 2010
I am the owner of child care and provide child care services for 2 children with disabilities. Is there any Tax deductions or Financial aids for such businesses?"
Can I consider donations from last year as deductions on this years tax forms?
Posted by admin in US Tax Questions on October 21st, 2010
I forgot to add many of my charitable donations to my tax deductions last year. Am I allowed to file them as donations if I did not claim them as such last year?
Also, what can be considered a charitable donation? What about costs associated with doing it? Like transportations?
Are there any tax deductions that can be taken when you sell your vehicle at a loss?
Posted by admin in US Tax Questions on October 15th, 2010
I was massively upside down on my last vehicle, and sold it at a very large loss. Are there any tax deductions I can take advantage of?
Recovery: Oct 15, 2010 Deadline
Posted by admin in US Tax Questions on October 6th, 2010
For those taxpayers who requested an extension to file their 2009 individual income taxes, the deadline is October 15, 2010. Taxpayers can still receive recovery tax credits and deductions for items such as the first-time homebuyer credit, a new vehicle purchased in 2009 and more.
Preparing for daycare in my home & tax deductions?
Posted by admin in US Tax Questions on October 2nd, 2010
In Illinois, I understand that one must be a licensed daycare in order to claim tax deductions for the business. I intend to become licensed within the next few months.
In the meantime, I will need to make some major purchases & renovations to my playroom area before I get inspected for my license. Can I still claim these purchases as deductions, since they will have taken place before I got my license? Any thoughts or suggestions are appreciated. Thanks…
Self Employed Get UnFAIR Tax Break in 2009 When Opening A Solo 401k
Posted by admin in US Tax Questions on September 13th, 2010
Nabers www.Nabers.com says setting up and contributing to your Solo 401k before the end of 2009 will allow married couples to deduct up to 9000 from their 2009 income taxes. Watch this video to learn more or you can pick up the phone right now and call Nabers Group directly at 877-903-2220.