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You are currently browsing the IRS Tax Talk weblog archives for the day 7. February 2009.
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Archive for 7. February 2009
Sales Tax Deduction
7. February 2009 by admin.
There is a sales tax deduction for sales tax paid on major items such as cars, trucks, airplanes, (this includes leasing of the vehicle) motor homes, mobile or pre-fab homes… and improvements to your home (think bricks and mortar, not cosmetics, not large TV’s, not fans, not appliances).. best examples are tile floor, wood floor, screen enclosure, etc….
It works like this… you deduct
- ACTUAL sales tax paid or
- table amount based on
- Income
- State
- County within the state
- Number of Exemptions
- PLUS MAJOR PURCHASES at the State rate (not including the county)
Posted in Income Tax | 2 Comments »
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