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What are the deductions applicable to senior citizens while submitting income tax returns?
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What is a word for submitting your tax returns?
You "file" your tax returns with the taxing authority (federal government, etc.) You can also "efile" your tax returns by submitting them electronically.
How can one get deductions tax returns after self filling the forms?
When you file your taxes there is a line on the form for your standard deductions or on a different form you can itimize your deduction if that would give you more deductions
Do I send a copy of my federal tax returns to the state if I live in Wisconsin?
If you have filed itemized deductions, it may call for a copy of your federal tax returns.
Is turnover calculated by first deducting items like carriage in and sales returns from sales or is it total sales without deductions?
it is sales less sales returns
When can you file your itemitized 2010 tax returns?
The IRS has said that the forms will be ready to file by the end of February for those who itemize deductions.
Gross sales price vs net sales price?
Gross sales is the total value of sales before any deductions. Net sales is what is left of the gross sales after deductions and expenses, including discounts, returns and allowances.
Is there a specific time for retaining utility bills and bank statements?
Unless they involve business or personal deductions on your income tax returns, you don't have to keep them at all.
Is it good to itemise deductions on tax returns and when can an individual itemise the deductions?
ON a federal return the standard deduction for 2005 is $ 5,000.00 and single, $10,000 married filing joint and $7,300.00 for head of household. You would have to have more this for it to help. State vary by states. So, if your intemized deductions are more than the base amount for the year given to anyone, it is better to do so.
Can you recommend a good computer program for preparation of my 1040 tax returns?
There are computer programs that can help you do itemized deductions on you 1040 tax returns. One such product is Turbo Tax and HR Block. However, it is best to double check your forms with an accountant.
How many us citizens don't file federal income tax returns?
Everybody who is on welfare.
Does California require a copy of federal returns?
Yes if you are filing a non-resident return, itemizing California deductions, or filing a federal schedule other than A or B.
What are some deductions that people take on their tax returns?
Some deductions would be if you make donations to charities you can include the receipt. Also you can deduct some medical expenses. I am in Canada and so this information may only apply to people in Canada so you should check the rules for your area.
