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 Can you deduct 401k savings from your taxes?

Answer On One Hand: No Deduction on Your Tax ReturnPersonal tax-return forms have no place for you to record a tax deduction for a 401k contribution such as the one for an IRA contribution, regardless of ... Read More »
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Top Q&A For: Can you deduct 401k savings from your taxes

Can you deduct garnishments from your income taxes?

No. Tax law regards all income earned by you as taxable even if your employer withholds any amount to pay outstanding debts. You must pay income tax on the full amount you would have received prior... Read More »
http://www.answerbag.com/q_view/1936016

Can you deduct dental bills from your taxes?

On One Hand: As a Medical ExpenseThe Internal Revenue Service includes dental bills as qualified medical expenses that you can deduct from your federal income taxes if the total of your medical exp... Read More »
http://www.answerbag.com/q_view/1984568

How much can you deduct from your taxes for clothing donations?

Making clothing donations is a smart way to trim your tax bill, as you can deduct your clothing donations from your taxes. You must be truthful and honest when calculating how much you will deduct... Read More »
http://www.answerbag.com/q_view/1870349

Can you deduct your term life insurance payments from your federal taxes?

You cannot deduct your term life insurance payments from your federal income taxes. Only medical insurance payments or qualified long-term care insurance premiums care can be deducted and only unde... Read More »
http://www.answerbag.com/q_view/2223370


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