The bottom line is I’m looking to buy a house soon, and I’ve found a really nice one in e neighborhood that’s a little more expensive tax wise. combining the city income tax, and the county property tax yearly, it’s about $1400 more per year ($4500 total taxes for this city) than some other nearby cities with comparable school systems, recreation, low crime rate, etc….so my question is….and I know this is hard to really put any solid numbers to, but about how much of that extra $1400 would I get back on my federal return. Looking for real rough estimates here. anything would help. Thanks
Posts Tagged ‘City’
how much of a federal tax deduction do you get from local city income tax, and property taxes?
01
Aug
Our property was foreclosed in 2000. Should we have been charged state, city taxes and attorneys fees.?
23
May
If we weren’t suppose to be charged how do we rectify. The property was located in Texas.
calculating federal, state, and city taxes?
18
May
Find the federal, state, and city taxes on the taxable incomes of the individuals listed in the table if the federal income tax is 20% of the taxable income after first deducting the state and city taxes; the state income tax is 10% of the taxable income after first deducting the federal and city taxes; and the city income tax is 5% of the taxable income after first deducting the federal and state taxes.
Taxable incomes: Mr. Dahlman $96,700, Mrs. Farrell $48,350
I already figured the taxes out for Mr. Dahlman and I am confident I arrived at the correct answer.
Here’s how I did it. Let x be federal tax, y state tax, and z city tax.
5x+y+z=96,700
x+10y+z=96,700
x+y+20z=96,700
x=17,100, y=7,600, z=3,600
I don’t really like how I got my answer and to be totally honest I am confused as to the steps I’ve taken to get the answers I have. Please show me how to do the income taxes for Mr. Dahlman in a different way than I figured it out if possible! Thanks!
Calulating federal, state, and city taxes?
15
May
Find the federal, state, and city taxes on the taxable incomes of the individuals listed in the table if the federal income tax is 20% of the taxable income after first deducting the state and city taxes; the state income tax is 10% of the taxable income after first deducting the federal and city taxes; and the city income tax is 5% of the taxable income after first deducting the federal and state taxes.
Taxable incomes: Mr. Dahlman $96,700, Mrs. Farrell $48,350
I already figured the taxes out for Mr. Dahlman and I am confident I arrived at the correct answer.
Here’s how I did it. Let x be federal tax, y state tax, and z city tax.
5x+y+z=96,700
x+10y+z=96,700
x+y+20z=96,700
x=17,100, y=7,600, z=3,600
I don’t really like how I got my answer and to be totally honest I am confused as to the steps I’ve taken to get the answers I have. Please show me how to do the income taxes for Mr. Dahlman in a different way than I figured it out if possible! Thanks!
Help! City stole part of my tax refund! What to do?
05
May
I have been unable to find any legal information on this myself and I don’t have any money for attorneys. I must fight this on my own. I called the California Franchise Tax Board to find out what was taking my direct deposit tax refund so long. They told me that $87 of it was taken by the City of San Diego and that the remainder would eventually be mailed to me. I asked why they gave part of my money to the city and they gave me a number to call. I called the number and the person told me that I had some unpaid library fines from 2003 that, with interest over the years, added up to $87 and they took my money to pay it. I told them that I had no outstanding fines and if I had, why did they wait 5 years to notify me that this was on my record? They claimed that their notification letters had been returned. I told them that they had made a mistake and to give me back my money. They refused. There must be some sort of law against this or somewhere to go to dispute this theft. Can anyone
…tell me where to go to get my money back from this bogus debt? Back when I actually used the city libraries, I remember them making tons of mistakes, but they were always corrected. Now, 5 years later, they suddenly steal my money out of the blue? Help!
Help with linear federal, state, and city tax problem?
16
Apr
Find the federal, state, and city taxes on the taxable incomes of the individuals listed in the table if the federal income tax is 20% of the taxable income after first deducting the state and city taxes; the state income tax is 10% of the taxable income after first deducting the federal and city taxes; and the city income tax is 5% of the taxable income after first deducting the federal and state taxes.
Taxable incomes: Mr. Dahlman $96,700, Mrs. Farrell $48,350
I already figured the taxes out for Mr. Dahlman and I am confident I arrived at the correct answer.
Here’s how I did it. Let x be federal tax, y state tax, and z city tax.
5x+y+z=96,700
x+10y+z=96,700
x+y+20z=96,700
x=17,100, y=7,600, z=3,600
I don’t really like how I got my answer and to be totally honest I am confused as to the steps I’ve taken to get the answers I have. Please show me how to do the income taxes for Mr. Dahlman in a different way than I figured it out if possible! Thanks!
To the poster below: Please do me a favor and answer the question as I have asked it or don’t answer at all. Each answer is dependent on the other(s). Your math is incorrect from what I can understand.
if or when i get a website do i have to register it with the city?
27
Mar
city merchants or the place that uses fictitious names or something like that! or registered it with the city to pay taxes attorneys etc etc or city hall in my city?
and yes a donate button will be added!
but it will be a non profit website sort of thing!
i want to website in my area with the locals stores etc
Failure to file city taxes, what to expect?
25
Feb
In 2007-08, I failed to file city taxes because I moved to new city (Euclid, OH), and my old city didn’t require local taxes to be filed. I recently got a subpeona to provide my W-2’s and federal tax forms for those years.
I want to know what to expect when I show up with my documents. Do I need to hire a tax attorney? Traveling up to Ohio for this will cost me enough since I live in the south US now, and if I don’t need an attorney, I’d rather not spend $1k I can’t exactly afford.
This is for income taxes, btw.
I lived in Euclid while i was working in Mentor, my employer withheld taxes for Mentor. I did not move during the tax periods in question, i moved to Euclid before I started working in Mentor.
whats the best way to my warrant for city tax evasion cleared up in ohio i have bench warrants please help?
24
Feb
i have 4 bench warrants for city tax evasion because i didnt file but now i cant get a job because i cant pass the background check i need to get this fixed so i can pay child support or there coming after me i didnt know if i should just go to the police or what i dont have the money for an attorney
Who is the best divorce/family law attorney in Kansas City?
22
Feb
Looking for the best family law attorney for a complicated situation. I need suggestions, PLEASE!
Attorney General Mark Shurtleff – Salt Lake City – Anti-tax Tea Party
10
Nov
HD video of Attorney General Mark Shurtleff speaking at the Salt Lake City – Anti-Tax Tea Party on April 15th, 2009.
Should I Be Freaked Out About A City Business Audit?
15
Oct
I just received a letter from the city (not IRS):
IMPORTANT NOTICE OF AUDIT for 2005-2007
Should I be freaked out? They said this is a random audit, but am I being paranoid in thinking that it is NOT random? I have not been conducting any business since October 2007 since I broke my leg when I was 9 months pregnant & have been on maternity leave ever since. Should I find a tax attorney? I have a small design business (I am the sole employee, but set up as LLC) and have not made much money. I am very freaked & don’t understand why they would be targeting someone who is just not making any money? (I need all the money I have since I have not been working since October & need to take care of my baby!)
Thanks for any advice!