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To: Robert A. Cook, PE
If you file a Form 1040, and itemize deductions on Schedule A, you have the option of claiming either state and local income taxes or state and local sales taxes (you can’t claim both). If you saved your receipts throughout the year, you can add up the total amount of sales taxes you actually paid and claim that amount. **Or, the following link, that this is from, has a sales tax calculator that estimates your sales tax based on income and zip code.**

https://www.irs.gov/credits-deductions/individuals/sales-tax-deduction-calculator
163 posted on 10/29/2017 1:01:48 PM PDT by Svartalfiar
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To: Svartalfiar

Yeah, right.

The IRS claims I spent 1064.00 on sales tax in a county where state and county sales tax = 7%. On an income of 125,000.00

Paid 5,500.00 (so far) in state income taxes.

Now, figure I’m not buying a car, nor a house or other sales items like that. 48% of my income is in taxes - though that includes the matching 6.5% of the Social Insecurity taxes that I would have been paid, and will never get back.

So, 50% of my income is taxes, leaves roughly 60,000.00 to spend.

1/2 of that is on already-taxed items like gasoline and telephone/cell phone/internet/natural gas, water, electricity.

So that leaves 30,000.00 to spend locally. At 7% sales tax spending 30,000.00 = 2100.00. Minimum.

The IRS is - again - dead wrong.


166 posted on 10/29/2017 3:16:17 PM PDT by Robert A Cook PE (I can only donate monthly, but socialists' ABBCNNBCBS continue to lie every day!)
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