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Which Taxes Can You Deduct?
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You Can Deduct |
You Cannot Deduct |
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| Income Taxes | State and local
income taxes. Foreign income taxes. Employee contributions to state funds listed under State benefit funds. |
Federal income
taxes. Employee contributions to private or voluntary disability plans. |
| Real Estate Taxes | State and local
real estate taxes. Foreign real estate taxes. Tenant's share of real estate taxes paid by cooperative housing corporation. |
Taxes for local
benefits. Trash and garbage pickup fees. Rent increase due to higher real estate taxes. Homeowners association charges. |
| Personal Property Taxes | State and local personal property taxes. | |
| Other Taxes | Taxes that are
expenses of your trade or business or producing income. One half of self-employment tax paid. Taxes on property producing rent or royalty income Occupational taxes. |
Many taxes, such as state and local sales taxes and federal excise taxes, generally are not deductible. (See Publication 17 for details.) |
| Fees and Charges | Fees and charges, such as for driver's licenses or water bills, generally are not deductible. (See Publication 17 for details.) |
Tax laws are subject to change at any time.
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480-354-1040 Fax 480-354-1041 Toll Free 877-945-1040 |
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