The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Estimating State/Federal Taxes||Date: 1/1/2002 12:06 PM|
|Author: lorenzo2||Number: 56564 of 122904|
lorenzo2 sez: I've never heard of federal taxes being deductible on a state return.
pmarti replies: I'm told Colorado allowed this deduction at one time, and I'm pretty sure Iowa does today.
Well, so it does. I just had a look at the Iowa form, which has a few other interesting items:
- Chickadee Checkoff, a contribution to a state Fish and Wildlife fund;
- Corndog Checkoff, a contribution to help fund capital improvements to the State Fairgrounds, where I guess they sell a lot of corndogs.
They also allow a deduction for your auto registration fee, calculated as follows: deduction = fee - (weight of car)/250. If it's a pickup truck full of corndogs, you may get no deduction at all.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|