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My name is claudio, the question is i paid my federal taxes…

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My name is *****...

My name is ***** ***** question is i paid my federal taxes of my corporation C from 2015 in 2016 can i deduct and where?

Accountant's Assistant: Thanks. Can you give me any more details about your issue?

Corporation has profits last year i paid the taxes on that profit in 2015 can i deduct and where

Submitted: 2 years ago.Category: Tax
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Answered in 22 minutes by:
2/23/2016
Tax Professional: Lev, Tax Advisor replied 2 years ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 32,857
Experience: Taxes, Immigration, Labor Relations
Verified

Hi Claudio and welcome to our site!
If that is C-corporation which pays YOUR tax liability - that amount is treated as paid to you - and reported as wages paid to you - so C-corporation deduct these payments as wages.

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Tax Professional: Lev, Tax Advisor replied 2 years ago

However...

If C-corporations pays CORPORATE taxes - these taxes are not deducted on the corporate tax return.

Please verify and clarify your situation.

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Lev
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