I had to pay money to state and federal last year. Can that money be claimed on this years taxes?

1 Answer

Answer :

how much is $60 add tax You can deduct the 2009 State Taxes you paid in 2010 on Schedule A (if you itemize). Federal tax payments are not deductible according to the IRS Website

Related questions

Description : Does the money from small business grants need to be claimed on my taxes?

Last Answer : Yes, money from small business grants need to be claimed on your taxes. You can read more information at governmentgrant.com/state-grants/Arkansas

Description : Do you pay state income taxes or do they refund you like federal income taxes do?

Last Answer : The last 4 years, I have had to pay the Feds, and got less money back from the State.

Description : What are taxes that you pay to the federal government?

Last Answer : Feel Free to Answer

Description : Can you pay your federal taxes online?

Last Answer : Yes, you can pay your federal taxes online using a credit card, if you have one. You will need to go to the website stated on your return and then follow the instructions given.

Description : What happens if you don't pay your federal income taxes?

Last Answer : If you don't pay federal income taxes, eventually you will eventually be investigated by the IRS. From there you will either have the money taken from you, your wages garnished or you may go to prison depending on the severity of the crime.

Description : I inherited an IRA from my mother who passed away last year. Do I have to pay taxes on the IRA Does it go directly on my Income Thanks.?

Last Answer : Yes, you will have to pay taxes. You can take the money lump sum and pay the taxes this year, or you can roll it over into an inherited IRA and pay the taxes as the money is distributed. You will be taxed at your normal marginal tax rate.

Description : What online personal income tax software for both federal and state taxes can you recommend?

Last Answer : I recommend online personal income tax software for both federal and state taxes, as well as software to help you file an extension if you need it.cutt.ly/JjWSDSE

Description : already filed federal where can i file state taxes only for free online”?

Last Answer : already filed federal where can i file state taxes only for free online””

Description : Which of the following taxes is regressive? a. the federal income tax b. the state income tax c. the sales tax d. the Medicare tax

Last Answer : c. the sales tax

Description : 4. Which of the following taxes is regressive? a. the federal income tax b. the state income tax c. the sales tax d. the Medicare tax

Last Answer : c. the sales tax

Description : My ex wife owe over $20,000.00 in back taxes. Years owed 95,98,99, and 2000.I recently filed this missing years and now have a fairly accurate assessment of what we owe. Unable to pay without filing Chapter 7 or 13.Income is stretched to the limit. ?

Last Answer : If she is your ex-wife, you probably aren't liable for her back taxes. Usually, your legal separation agreement will stipulate that you are each responsible for your own taxes. If so, I would think you're off the hook for this.

Description : I have delinquent property taxes and they want to take my home. what can i do I owe 2 years worth. I went thru a bad divorce and could not pay.?

Last Answer : immediately go to your family lawyer and explain your position, and ask some more time for that one it is better idea.

Description : What do you think the chances are The President and Congress get rid of mortgage interest and property taxes being a deduction on federal income taxes?

Last Answer : From what I hear, it is Republicans who are talking about closing “loopholes” and capping deductions more than Democrats. But whether it, or anything will happen, I don’t know. And I doubt it could effect this year’s taxes anyway.

Description : Can interest on Home Equity loan be deducted from federal taxes

Last Answer : The interest on most home equity loans is tax deductible. There are limitations to interest deductions for home equity loans depending on what the loan is used for. For more information about home equity loan tax deductions, see IRS Publication 936, Home Mortgage Interest Deduction .

Description : I have Form 1099R in my posession, which Form do I need to file my information in order to receive my federal income taxes withheld?

Last Answer : I have Form 1099R in my posession, which form o I need to file my information in order to receive my federal income taxes with held?

Description : Where should I look to estimate my federal taxes?

Last Answer : I, myself use Turbo tax. Turbo tax will estimate and fill your taxes, or you may want to go to your local tax advisor.There are free tax services to help you.

Description : Can I file my federal taxes for free?

Last Answer : Yes, you can file your federal taxes for free. Here's a link to a website that will guide you through how to file your taxes for free. http://www.irs.gov/efile/article/0,,id=118986,00.html

Description : How much do I have to earn before I start paying federal income taxes?

Last Answer : If self-employment is your only income for the year, the filing threshold is $400 for the entire year. This figure is the total amount that you earned before your have deducted your business expenses. You will need to fill out Schedule C or C-EZ to document self-employment income and expenses.

Description : What are deductions allowed when calculating federal income taxes?

Last Answer : The deductions allowed whe calculating federal income taxes are as follow: Mortgage interest, charitable contributions, job expense, miscellanoous expense, medical expense in excess of 7.5 of income, and payment of state and local property taxes.

Description : My wife had a business last year. Should we still file our taxes jointly?

Last Answer : answer:How was the business organized? Did she draw a salary? The business may have to file its own return. I would bite the bullet and get professional help.

Description : I had a payment plan in place to pay my back taxes owed to the IRS (approx 1500) they took my Stimulus Ck and I think my balance might be around 1200 - 1500. How do I find out what I owe them today. and how do i re-enter a new agreement with them?

Last Answer : Call the IRS and talk to an agent to find out your balance and how to enter a new agreement with them.

Description : Republicans: Can we agree to raise taxes enough to pay back the money spent on the wars?

Last Answer : How much would we have to raise and how would we raise taxes, @JLeslie?

Description : I throw litter out of my car on a regular basis,is this wrong seeing that i pay my taxes and part of my tax money goes to help keep the streets clean it also keeps people in work?

Last Answer : Yes. It’s wrong. The hospital also patches up people who have been shot. It doesn’t mean you should help keep them necessary.

Description : When you pay more than you owe in taxes and the IRS gives you money back, that money is called _________. A. A tax refund B. Gross pay C. Estimated tax D. An audit?

Last Answer : A. A tax refund

Description : If you had the option to decide how much to pay in federal income tax,what percentage would you pay?

Last Answer : My effective rate is 15%, according to turbotax. I’d be willing to raise that 2 or 3 percent.

Description : What government law that allows states to buy land they had claimed to the west?

Last Answer : public land provided they live on it, improve it, and pay a small registration fee.

Description : He claimed that he had set himself three goals in life: to be the greatest economist in the world, to be the best horseman in all of Austria and the greatest lover in all of Vienna ... said which two. Identify this economist after whom The Economist named a column on business and management.

Last Answer : Joseph Schumpeter.

Description : Do you think the money I received this week for helping out a friend doesn't need to be claimed on my weekly unemployment claim?

Last Answer : What was the time frame for the the “non-work” that you received the check ? ?

Description : What do you think I'll have to pay in taxes next year...

Last Answer : Look online for Tax Tables. They’ll show you, by income category, what you’ll pay.

Description : How much would a 16 year old pay for taxes on $800 if her parents claim her as a dependent?

Last Answer : where is your "Tax Bracket Calculator? and if I may why is this site so hard to use? How much would a 16 year old pay for taxes on $800 if her parents claim her as a dependent? depends on the year. ... if you didn't make more than 3000 in a calender year you wouldn't have to pay taxes on the money.

Description : What state do you pay taxes to if you work at home, but are employed by a company in another state?

Last Answer : The company address on your pay stub, is where you are taxed from if you get a W-2 at the end of the year. If you are a contractor and the 1099 form is the tax form issued by the company than it is where you work from ( Missouri ).

Description : Why should citizens of the state pay regular taxes ?

Last Answer : As members of society and citizens of the state, we enjoy a variety of privileges and rights. That is why we have some responsibilities and duties towards the society and the state. One of the many ... the taxes paid to the citizens. Therefore, it is the duty of the citizens to pay regular taxes.

Description : do retirees pay state income taxes in Alabama?

Last Answer : No

Description : What is Value Added Tax (VAT)? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

Last Answer : (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. Explanation: A value added tax (VAT) is a form of consumption tax. A VAT is like a sales tax in that ... under the single tax system based primarily or exclusively on one tax, typically chosen for its special properties.

Description : What is Value Added Tax (VAT) ? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods 

Last Answer : A single tax that replaces State taxes like, surcharge, turnover tax, etc. 

Description : Death and taxes; taxes and death----- They're sure to be with us, until our last breath. So, try to save money-----How much can you save? They'll nickel us and dime us-----Right down to the grave. And now that you've heard my negative chant, tell me the man's name you hear in my rant. -Riddles

Last Answer : The man's name is Nicholas (nickel us).

Description : Ploughing-back of profits means– (A) Dividend declared but not claimed by shareholders (B) Non-declaration of dividend in any year (C) Profits earned from illegal sources and employed in business (D) Retaining the earnings of business for future expansion programme

Last Answer : Answer: Retaining the earnings of business for future expansion programme

Description : We're Not Legally Obligated to Pay State/Federal Income Tax? It is a voluntary tax?

Last Answer : I can direct you to a law on a dot-gov website that states pretty darn clearly what happens to you if you don’t pay federal income taxes. You go to jail. So if by “voluntary” you mean, your choice is your money or your freedom, the suuuure, it’s voluntary.

Description : What state was originally claimed by the catholics?

Last Answer : Virginia

Description : Jurisdiction of National commission is a) Complaint where the value of the goods or services and compensation, if any claimed does not exceeds Rs 5 crore b) Complaint where the value of the goods or ... the goods or services and compensation, if any claimed exceeds Rs 1 crore e) C& D only

Last Answer : e) C& D only

Description : Jurisdiction of State commission is a) Complaint where the value of the goods or services and compensation, if any claimed exceeds Rs 20 Lac b) Complaint where the value of the goods or services and compensation ... , if any claimed exceeds Rs 20 Lac but does not exceed one crore e) C& D only

Last Answer : e) C& D only

Description : All of the following were true concerning absolute monarchs EXCEPT a. Ultimate state authority resided in them b. They claimed to rule by divine right c. They lacked a bureaucracy to assist them d. They could make laws

Last Answer : c. They lacked a bureaucracy to assist them

Description : If the amount claimed by consumer is Rs. 89 Lacs, the case under the consumer protection act shall be filed with A. District Consumer Redressal forum B. State consumer Dispute Redressal Commission C. National consumer Dispute Redressal Commission D. Supreme court

Last Answer : B. State consumer Dispute Redressal Commission

Description : While computing the actual cost of any asset falling within a block, portion of cost of asset which has been met directly by the central government or a state government or any authority under any law ... price b) Subtracted from purchase price c) Added to WDV d) Claimed as Revenue Expenditure

Last Answer : b) Subtracted from purchase price

Description : Do you pay taxes if you buy an island and how much?

Last Answer : Depends on where the island is? Where is said island?

Description : How would it work out if your voting power was decided by how much taxes you pay?

Last Answer : I don’t think that would work so well. The rich people would get more votes out.

Description : Do I have to pay taxes on my deceased father's p/u truck in order to put it in my name?

Last Answer : You’ll have to go online for Idaho. Each state is a little different. In mine, yes you’d need a personal property tax receipt, even if it was paid. Should all be in the glovebox I’d think from his last time registering.

Description : Do you have to pay taxes on an insurance settlement?

Last Answer : When I got a settlement for an accident, I asked several times, and was told I do NOT have to pay taxes on that.

Description : Do you have to pay sales taxes on intangible things sold on the internet?

Last Answer : It is a service they pay for, so taxes apply in any case, and yes, it is always your responsibility.