Deduction for taxes Flashcards
1
Q
Business taxes deductible as
A
business expenses
2
Q
personal state income tax and real estate tax
A
generally can deduct
3
Q
fed income tax, ss, medicare
A
generally cant deducce
4
Q
state tax includes
A
income, real prop, personall prop, sales
5
Q
sales tax
A
gen can dedudct but have to choose between sales and state income notboth.
6
Q
for sales tax IRS has
A
tables
7
Q
deductible: State/bus
A
btl, atl
8
Q
chairtable deductions
A
170: BTL, actual contribution to qualified charity, cash or non cash, limit
