Posts tagged ‘Federal Taxes’

I am a 50 % owner of property in Mexico and my partner wants to buy my interest out. Will the IRS take my proceeds to pay my delinquent taxes?

I am doing my taxes by myself for the first time, and I heard somewhere that your state income taxes can be a write off on your federal income tax. Is that true?

In 2007, I was overpaid by my employer and now they want me to repay the overpayment. Today, I sent them a check for the overpayment. I have paid my 2007 federal and state taxes on the overpayment amount. How do I claim those taxes that I have paid when I file my 2008 taxes soon? Where can I indicate such a deduction on a federal 1040 tax form? Please be detailed in your answer. Thanks.

I was a officer in a corporation. I never received any pay. When the corporation when bankrupt it owed sales tax and withholdong taxes. I had to pay these taxes out of my pocket. Are these taxes deductable from my federal taxes.

I recently became a Texas resident and paid sales tax to Texas on a car I purchased. Is that state sales tax deductable from my federal income taxes (Texas has no state income tax)?