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#2
04-07-2004, 08:30 AM
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 Re: Self-employment tax deduction for MA? - quote - > > The MA statute says nothing about allowing a deduction for
(1) In what context do they credit SE tax payments as SS tax> > taxes paid persuant to the Self Employment Contributions Act; > > and as a self-employed person, you are paying SECA taxes, > > not FICA or FRRA taxes. So I think you're out of luck. > both the professional software packages i've used, tax > relief and ultratax, credit self-employment tax as social > security tax payments. so i'd suspect they're right and > s.e. tax payments are valid for the MA deduction. payments? Just because that may be true federally or for some non-MA state doesn't mean it's true in MA. (2) In the duelling anecdotes department :-), UTS's TaxWise does *not* put the SE tax into the FICA+Medicare deduction line on the MA return. So I'm sticking with my answer :-) -- Rich Carreiro rlcarr[at]animato.arlington.ma.us << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
04-05-2004, 08:10 PM
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| Re: Self-employment tax deduction for MA? - quote - > The MA statute says nothing about allowing a deduction for
both the professional software packages i've used, tax> taxes paid persuant to the Self Employment Contributions Act; > and as a self-employed person, you are paying SECA taxes, > not FICA or FRRA taxes. So I think you're out of luck. relief and ultratax, credit self-employment tax as social security tax payments. so i'd suspect they're right and s.e. tax payments are valid for the MA deduction. peter desmond << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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04-05-2004, 07:51 PM
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| Re: Self-employment tax deduction for MA? Rich Carreiro <rlcarr[at]animato.arlington.ma.us> wrote: - quote - > As I said over in misc.taxes, I don't believe the deduction
Thanks for the replies, Rich, I guess my tax program knew> is allowed, since MGL 62 Section 3(B)(a)(3) says that the > deduction is for "Taxes paid to the United States under the > provisions of the Federal Insurance Contributions Act or the > Federal Railroad Retirement Act." > The MA statute says nothing about allowing a deduction for > taxes paid persuant to the Self Employment Contributions Act; > and as a self-employed person, you are paying SECA taxes, > not FICA or FRRA taxes. So I think you're out of luck. what it was doing after all. It's strange that the state would not allow the deduction for self employment contributions (or at least half of it, to match what W2 employees pay), since they are the same tax. I wonder what the logic behind it was. Although, it's probably illogical to expect logic in regards to taxes and state government.  << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
04-01-2004, 12:50 PM
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| Re: Self-employment tax deduction for MA? cwaycwaycway[at]yahoo.com (Charlie Way) writes: - quote - > On the Massachusetts Form 1, on line 11, there is a
As I said over in misc.taxes, I don't believe the deduction> deduction for FICA, up to $2000 each for husband and wife. > My wife had only self-employment income for last year, and > paid a fair amount of self-employment tax. Is any of this > deductible on line 11 of the MA tax form? > It seems like it should, since it's the same thing as FICA, > but my tax program didn't put anything in there from the > federal form. is allowed, since MGL 62 Section 3(B)(a)(3) says that the deduction is for "Taxes paid to the United States under the provisions of the Federal Insurance Contributions Act or the Federal Railroad Retirement Act." The MA statute says nothing about allowing a deduction for taxes paid persuant to the Self Employment Contributions Act; and as a self-employed person, you are paying SECA taxes, not FICA or FRRA taxes. So I think you're out of luck. -- Rich Carreiro rlcarr[at]animato.arlington.ma.us << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| deduction, selfemployment, tax |
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