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The workman's compensation is not obligated to the federal or state tax deductions. The business can use the workman's comp given out as a tax deduction and the individual can only attempt a tax deduction if payment has been held for an extended period of time.
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How can a land purchase be a tax deduction?
If it is purchased for business purposes.
Non business bad debt deduction?
Non business bad debt deduction for what? if anything, the IRS will try to collect tax on it, considered as income
Do you receive a 1099 form for. workman's comp.?
No. Workers compensation is completely exempt from federal tax if the payments are made under a workers compensation act for injuries occurring in the course of employment. They're also exempt from state tax. They're not included as income, so they wouldn't be reported to you on a 1099 or any other tax form.
What is the tax deduction on a new truck?
There is no "tax deduction on a new truck." If you use the truck for business, you may be able to deduct part of the cost as a business expense. This is complicated enough that you should probably talk to a CPA or Enrolled Agent (somebody who prepares taxes for a living).
Is a rainbow vacuum a medical tax deduction?
No, a rainbow vacuum is not a medical tax deduction.
Can you claim phone bill as a deduction on your income taxes?
Not for domestical calls. Some tax agencies will allow deduction where the phone is used to del with formal business reasons.
How much is the IRS deduction for driving a mile on business?
For the tax year 2010 50 cents per mile for business miles driven.
Java code for tax deduction in database connection?
Java code for tax deduction in database connection?
Are proceeds from life insurance policy on key employees taxable?
If the policy was paid for with after-tax dollars, the proceeds would not be taxable. If the business took a tax deduction for the policy premiums as a business expense, a tax may be incurred on the death benefit.
Is taxable profit the same as net profit?
Business net profit is adjusted for things like tax depreciation as well as some items which are not allowed by tax department as expense or income or deduction to arrive at taxable profit.
Where can I find out more about car donation tax deduction in NY?
You can contact the Better Business Bureau for information in qualifying organizations.
Is there a medicare tax deduction?
No
