SS and Medicare Tax W/Held and Foreign Tax Credit
Moderator: Mark T Serbinski CA CPA
SS and Medicare Tax W/Held and Foreign Tax Credit
I assume both are considered taxes thus, they should be included when calculating total US foreign taxes paid?
Re: SS and Medicare Tax W/Held and Foreign Tax Credit
Yes, against the tax for wages.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
Re: SS and Medicare Tax W/Held and Foreign Tax Credit
nelsona wrote:
> Yes, against the tax for wages.
Thank you sir. Would State and city taxes be include also or simply, federal + Medicare + SS only?
Thanks once more.
> Yes, against the tax for wages.
Thank you sir. Would State and city taxes be include also or simply, federal + Medicare + SS only?
Thanks once more.
Re: SS and Medicare Tax W/Held and Foreign Tax Credit
Grad467_2 wrote:
> nelsona wrote:
> > Yes, against the tax for wages.
>
> Thank you sir. Would State and city taxes be include also or simply, federal +
> Medicare + SS only?
>
> Thanks once more.
Help please? Thank you in advance..
> nelsona wrote:
> > Yes, against the tax for wages.
>
> Thank you sir. Would State and city taxes be include also or simply, federal +
> Medicare + SS only?
>
> Thanks once more.
Help please? Thank you in advance..
Re: SS and Medicare Tax W/Held and Foreign Tax Credit
One more question re: my question(s) above. If city US city tax can be included as "foreign tax paid", can I also claim State and City taxes owing for 2020 as foreign tax paid also?
Thanks again for anybody's input / info..
Thanks again for anybody's input / info..
Re: SS and Medicare Tax W/Held and Foreign Tax Credit
The taxes you can use (including city income tax) are always the ones CALCULATED on your tax returns, NOT the tax withheld, owed, refunded, etc. Your returns state what tax you accrued for the tax year. That is what you use (plus SS and Medicare for wages).
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best