Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
If you qualify for the sales tax deduction (only a few states typically qualify), you may get some small benefit.

The sales tax deduction allows you to track your own sales tax for the year, or calculate a default value based on your income. If you use the table/calculation, sales tax on large expenditures (cars, major home improvements, etc.) may be added on top of the standard amount.

I'm in no way a tax professional, but I did a little research this last year. Because we live in FL (no state income tax), we qualified for the sales tax deduction, and had purchased a new car and remodeled our kitchen the previous year.
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.