TAXING THOUGHTS
Spexy Lady likes to shop, but who would guess that some of this spending might have a tax advantage? Uncle Sam wants to get every penney he can, after all, he's bailing out most of the modern world, and he can't do that without your help.
Most people take the standard itemized (if they itemize) sales tax deduction, which is a percentage of your taxable income. However, it is possible that the percentage of your taxable income spent on items that had sales tax is not be sufficient to cover all that you actually did spend! The purchase of a new car, re-doing the kitchen with new appliances, a long-awaited vacation to exotic lands, when taxed add up. And in states like Texas and New York with big sales tax, those numbers can add up fast!
Check out that sales tax, add up your credit card expenditures for the year and see if that sales tax deduction Uncle Sam hands you is really enough. If it's not, you could be saving yourself a little money this year!
Have a spex-tacular tax season!
Most people take the standard itemized (if they itemize) sales tax deduction, which is a percentage of your taxable income. However, it is possible that the percentage of your taxable income spent on items that had sales tax is not be sufficient to cover all that you actually did spend! The purchase of a new car, re-doing the kitchen with new appliances, a long-awaited vacation to exotic lands, when taxed add up. And in states like Texas and New York with big sales tax, those numbers can add up fast!
Check out that sales tax, add up your credit card expenditures for the year and see if that sales tax deduction Uncle Sam hands you is really enough. If it's not, you could be saving yourself a little money this year!
Have a spex-tacular tax season!
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