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04-19-2006, 08:46 AM #1Registered User
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For those of us that live in states with sales taxes
and are able to itemize on our income tax
We saved all of our receipts (well I'm sure a few of them got away from us but most for sure) on things we bought this year and I added them weekly and kept a running total for our income tax to compare to the standard deduction. We spent about $500 more than the standard deduction so it was well worth my trouble. Just thought I'd give ya a heads up. It might be worth it for you as well. It's the little things that add up so quickly too.
~48 yr. old sahw, livin' it up in our empty nest, smack dab in the middle of everywhere.~
*We're debt freeeeeeeee! (including the house)*
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04-19-2006, 09:12 AM #2Super Moderator
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Good for you Lisa!
~*Darlene*~
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04-19-2006, 09:23 AM #3Registered User
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Good for you, that takes a LOT of organization!!
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04-19-2006, 09:36 AM #4KimBob
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Originally Posted by NoDebtMom
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04-19-2006, 11:23 AM #5Registered User
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Wow! Good for you, that's quite a chunk of change. I had no idea you could deduct sales tax.
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04-19-2006, 12:21 PM #6Super Moderator
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Really? You can deduct sales tax? I didn't know this lol
That's great that you kept all your receipts and were able to deduct on your income taxes
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05-14-2006, 05:27 PM #7Registered User
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My parents did that for the first time this year. Since my father is self-employed, their tax situation is a lot more complicated than ours, but it did work out for them in the end.
I'll probably start doing the same thing when we buy a house, since the standard deduction will probably be my best option until then,Loving wife to DH (8/31/03) and Mommy to Owen Alexander (9/20/06)
Baby #2 due 5/30/2012
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05-15-2006, 10:58 AM #8Registered User
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I didn't know you could deduct sales tax. Is there somewhere online to get more info about that deduction? I always itemize and I've never seen that as one of the deductions.
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Nelly, another one for you - Do high sales taxes
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