Can the Tax From Buying New Car Be Deducted on Federal Taxes?

Answer The Internal Revenue Code in the United States allows for deduction of sales tax on the purchase of a vehicle when the taxpayer completes Schedule A, Itemized Deductions, of Form 1040, U.S. Individ... Read More »

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Can short-term&long-term disability insurance be deducted from federal taxes?

Taxpayers are not allowed to deduct premiums that they paid for personal disability insurance. While it is legal to deduct other forms of insurance, such as business liability insurance, personal d... Read More »

How much federal tax is deducted?

The amount of federal taxes paid is based on gross wages and the number of allowances claimed on the W-4 form---the Employee's Withholding Allowance Certificate. There is no set amount of taxes wit... Read More »

About Federal Income Tax Deducted From Your Paycheck?

The federal government requires that you pay estimated taxes on your income as you earn it rather than in one large payment when you file your tax return. Most people satisfy this requirement throu... Read More »

How are payroll taxes deducted?

Employers are required by law to withhold payroll taxes from employees' paychecks and pay them to the government. The amount of payroll tax withheld depends on the type of tax being deducted.Federa... Read More »