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No. But if you live in one of the states that allows a state deduction for federal taxes and you took such a deduction, you may have to claim it on your state return.
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.
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.
THIS DEDUCTION ON YOUR TAXES will have to entered on the correct form or line of your 1040 federal income tax return before your income tax return can be completed correctly.
The maximum deduction for a charitable bequest of the residuary estate is reduced by taxes and administrative expenses.
No. The tax deduction will be on your federal income taxes instead.
One type of payroll deduction is all the taxes you have to pay such as federal, state and social security. Another type of deduction is your health insurance.
Property taxes can be itemized on the schedule A itemized deduction of the 1040, or if your standard deduction would be more than your itemized deduction, the amount can be used to increase your standard deduction amount on your federal income tax return.
No. While State taxes are a deduction to Federal income and hence may change your tax due to the Feds, your Federal tax does not effect your State taxes in any year.
There is no maximum refund. If you overpaid your federal taxes, you'll get a refund for the overpayment no matter how much it is.
If you itemize deductions on your federal income tax return, you have the choice of claiming a deduction either for state income taxes or state sales taxes (but not both). Sales taxes would include those for groceries. Note that this is a deduction, not a refund or credit.
Federal taxes are not based on a straight percentage but on a deduction and then a percentage. The percentage is according to income. If you live in a state that already takes out high taxes, then the federal government takes out taxes at an even higher rate.