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Yes. Schedule A is Itemized Deductions. The second section is Taxes You Paid. real estate taxes on your home are deducted on line 6.
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Are federal income taxes deductible for federal corporate income taxes?
No, they are not.
Are state taxes deductible for federal corporate income taxes?
Yes, most state taxes are going to be deductible for federal taxes. Consult the tax manuals or your tax preparer for more information.
Are payroll taxes at a corporate level deductible on Federal form 1120?
All state and local taxes as well as FEDERAL PAYROLL TAXES are deductible when incurred on property or income relating to business. But, FEDERAL INCOME TAXES are not deductible. and Yea they are deductible on form 1120. Hope tht helps!
Is there a Federal deduction for state back tax payments?
State income taxes are deductible from Federal taxable income in the year they are paid, regardless of when they were due.
Are state income tax payments deductible on a corporate tax return?
Yes. State income (and net worth based) taxes are deductible from taxable income for Federal income tax purposes.
Can federal taxes withheld be tax deductible?
You cannot deduct withheld federal taxes on your federal income tax return. There are some states that allow the deduction of withheld federal taxes on the state income tax return.
Are state income tax payments deductible on federal form 1120?
State income taxes are deductible on the Federal Form 1120. Other deductions include repairs, interest, and depreciation for homeowners filing Form 1120.
Can mileage from and to a bank to get Cd's deductible from federal income tax?
No, the mileage to and from a bank to get CD\'s are not deductible from federal income taxes.
What types of taxes paid are not allowable deductions on your tax return?
Federal income taxes are not deductible on your federal or state income tax return. http://small-business-tax-info.com
Are state income payments deductible on federal taxes for corporations?
Yes, (and individuals). For Corps it is the amount paid (not accrued).
If you paid 765 dollars this year in federal tax payments that were owed for a previous year is this your deductible?
Federal taxes paid or payable, (even if paid in the current year), aren't deductible in calculating your federal taxable income. State income tax payments may be deductible in determining your federal tax taxable income. And refunds received of a prior years State income tax may therefore be included in the current years federal taxable income.
Are federal corporate income taxes deductible for state income taxes?
In general, states do not allow a deduction for federal income taxes as most states "piggyback" off of federal taxable income as the beginning of the state income tax calculation. However, the states of Alabama , Iowa , Louisiana , and Missouri have variations of state taxable income that allows for some potential deduction for federal income taxes. Each of these four states has its own unique methodology for the deduction and each place certain restrictions on the ability to take the deduction.
