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#2
04-07-2004, 10:06 AM
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 Re: Fed. Tax deductible on VA state return? alba nohi wrote: - quote - > Why is the amount you pay as federal tax not deductible on
State taxes are deductible on Federal returns (with AMT> the Virginia (or any state) return? Federal tax allows you > to deduct VA taxes paid if you itemize. Ideally, why should > you have to pay taxes for money that did not actually end up > in your pocket? limitations, which are becoming important to a larger proportion of taxpayers every year) because the federal tax codes provide for it. Presumably, Congress put this in to encourage you to pay your state taxes. State legislatures have no interest in encouraging you to pay federal taxes, so none of them have allowed you to deduct them. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
04-07-2004, 08:11 AM
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| Re: Fed. Tax deductible on VA state return? alba nohi wrote: - quote - > Why is the amount you pay as federal tax not deductible on
Most states do not permit a deduction for federal income> the Virginia (or any state) return? Federal tax allows you > to deduct VA taxes paid if you itemize. Ideally, why should > you have to pay taxes for money that did not actually end up > in your pocket? taxes. This is decided by your legislature. If you do not like the law let them know. -- Frederick E. Jorden http://Tax-Accounting-Payroll.com 7825 Midlothian Tpk - 207 Richmond, VA 23235-5247 EMAIL knowtax[at]bigfoot.com (804) 320-6210 FAX (804) 320-6211 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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04-07-2004, 07:51 AM
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| Re: Fed. Tax deductible on VA state return? albanohi[at]hotmail.com (alba nohi) writes: - quote - > Why is the amount you pay as federal tax not deductible on
Virginia: because the Virginia law says it isn't. I> the Virginia (or any state) return? believe there are a couple of states that allow for a deduction of Federal tax paid. - quote - > Federal tax allows you
Not all. For example, you can't deduct the sales tax you> to deduct VA taxes paid if you itemize. pay in Virginia. - quote - > Ideally, why should
Good question. Ask your elected representatives. Don't> you have to pay taxes for money that did not actually end up > in your pocket? forget to include excise taxes, sales taxes, use taxes, FICA, Medicare, estate and gift taxes, all of which reduce the amount of money in an individual's pocket but don't reduce his income tax. Phil Marti Topeka, KS << -------------------------------------------------> << 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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| Fed. Tax deductible on VA state return? Why is the amount you pay as federal tax not deductible on the Virginia (or any state) return? Federal tax allows you to deduct VA taxes paid if you itemize. Ideally, why should you have to pay taxes for money that did not actually end up in your pocket? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| deductible, fed, return, state, tax |
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