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Author: Jeanwa Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 123149  
Subject: Re: idiot sales tax deduction question... Date: 2/14/2005 9:54 AM
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Do I need to know all the different rates, in all the different places I shop, when I try to determine if it's better for me to add up all my sales taxes paid (yes, I keep all my receipts) or use the tables that they supplied?

No. It doesn't matter where you shop for using the tables, you just use the county/city where you live. So, if you pay larger percentages in the place you shop you could do better using the actual amount.

One more thing, you may want to "back in" to the about you spent. For example if, using the tables, you can deduct 600.00 in sales tax. and your sales tax rate is 8% That means the IRS figures for your income and your exemptions you spent 600/.08 or 7,500 on goods. If you are sure you spent more than that use the receipts.

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