3/17/2024 0 Comments Maryland 2016 tax extensionYou can, however, claim dependent deductions on your Federal Tax Return. Unlike most states, Maryland does not have a dependent deduction. The Federal Income Tax, however, does allow a personal exemption to be deducted from your gross income if you are responsible for supporting yourself financially. Keep in mind that not all deductions allowed on your federal income tax return are necessarily going to be allowed on your Maryland income tax return. Certain itemized deductions (including property tax, qualified charitable contributions, etc) may be allowed depending on the income level and filing type of the taxpayer. Unlike many other states, Maryland has no standard deduction. For details on specific deductions available in Maryland, see the list of Maryland income tax deductions. Using deductions is an excellent way to reduce your Maryland income tax and maximize your refund, so be sure to research deductions that you mey be able to claim on your Federal and Maryland tax returns. Income tax deductions are expenses that can be deducted from your gross pre-tax income.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |