deduct - The Rhode Island Directory

Is it possible to deduct child support from disability payments in Rhode Island?

Samantha Boss2 years ago2 years ago09 mins

In Rhode Island, the question of deducting child support from disability payments arises frequently. However, it is essential to understand the state’s laws and regulations regarding this matter. This article aims to inform readers about the possibility of deducting child support from disability payments in Rhode Island, clarifying the legal framework and providing insights into the implications for both parties involved.

Is it permissible to deduct gambling losses on Rhode Island tax returns?

Samantha Boss2 years ago2 years ago09 mins

When it comes to filing tax returns in Rhode Island, taxpayers often wonder if they can deduct their gambling losses. The answer, unfortunately, is no. Rhode Island does not allow deductions for gambling losses. While it’s disappointing for those who engage in gambling activities, it’s important to be aware of the state’s regulations to avoid any potential issues with the tax authorities.

Can you deduct gambling losses in Rhode Island?

Samantha Boss2 years ago2 years ago07 mins

In Rhode Island, taxpayers may wonder if they can deduct gambling losses. Unfortunately, the answer is no. Unlike some states that allow deductions for gambling losses, Rhode Island follows federal tax laws, which only permit gambling losses to be offset against gambling winnings. Therefore, it is crucial for residents to understand the regulations and consult a tax professional for accurate guidance.

Is it possible to deduct rent expenses on your taxes in Rhode Island?

Samantha Boss2 years ago2 years ago08 mins

Rent expenses can be a significant part of one’s budget, and many individuals wonder if they can deduct these expenses on their taxes in Rhode Island. Unfortunately, unlike some states, Rhode Island does not offer a specific deduction for rent payments. However, individuals may still be eligible for other deductions, such as the federal Earned Income Tax Credit (EITC) or the state’s Property Tax Relief Credit (PTRC). It is crucial to consult with a tax professional or review the Rhode Island Department of Revenue’s guidelines to ensure accurate tax filing and potential deductions.