Tax Exclusion Templates
Are you looking to save on taxes? Learn about the tax exclusion options available to you. These exclusions allow individuals and businesses to exclude certain income or expenses from their taxable income, ultimately reducing their overall tax liability.
One of the most common tax exclusion options is the Unemployment Exclusion. If you have paid taxes to other states while receiving unemployment benefits, you may be eligible for a credit that can help offset your tax liability. Find out how to claim this credit with the Instructions for Form IL-1040 Schedule CR Credit for Tax Paid to Other States for Unemployment Exclusion in Illinois.
Another popular tax exclusion is the Capital Gain Exclusion. In some states, like Vermont, you can exclude certain capital gains from your taxable income. Use the Schedule IN-153 Vermont Capital Gain Exclusion Calculation to determine if you qualify for this exclusion.
International businesses may benefit from the Exclusion of Income From the International Operation of Ships or Aircraft. The IRS Form 1120-F Schedule S provides instructions on how to exclude income derived from the international operation of ships or aircraft under Section 883 of the tax code.
If you're in California and planning to transfer property between a grandparent and grandchild, you may be eligible for a reassessment exclusion. Check out Form BOE-19-G Claim for Reassessment Exclusion for Transfer Between Grandparent and Grandchild to learn more about this exclusion.
Individuals in Iowa who receive disability income can exclude a portion of it from their taxable income. The Form IA2440 (41-127) Iowa Disability Income Exclusion outlines the necessary steps to claim this exclusion.
Explore these and other tax exclusion options to legally reduce your tax liability and keep more money in your pocket. Take advantage of these exclusions and enjoy the financial benefits they provide.
Documents:
12
This Form is used for claiming the exclusion of certain foreign-earned income from your taxable income.
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Word
This is a tax form people permanently residing in American Samoa can use to exclude certain income from their gross income.
This is a fiscal document used by individual taxpayers to exclude the specific bond interest from their income.
This form is used for calculating exclusions on real property taxes in Fairfax County, Virginia.
This form is used for claiming a reassessment exclusion for property transfers between a grandparent and grandchild in San Diego County, California. It allows for a potential exclusion from property tax reassessment.
