 If I rent my primary residence and don't make a profit, it is a wash from a tax standpoint? |
| I rented it for a few months for less than my mortgage payment. Seems like the tax accounting is profoundly complicated (depreciation, prorating of expenses and taxes, etc.) for not making any money.... |
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 Will i have enough money? |
i am 13..... but when i turn 16, i plan on getting a ford mustang.
i could afford this if i got a job at lasertron. they pay 9.25$ an hour. if i work 5 days a week and 4 hours a day, i think i ... |
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 Can I claim a step-child on my taxes?? |
| My husband and his ex wife have joint custody. She gets to claim one of the kids on her taxes and he gets to claim the other on his. He has back child support to pay on another child from a ... |
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 What is VAT ? |
| What is Value Added T... |
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 Can I claim a tax rebate on travel costs to and from work in the UK? |
| I wok 50 miles away and drive in to work 3 times a week (a 100 mile round trip) and have done this for the last 18 months. I work for the NHS and can apparently claim for lots of other little things, ... |
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 Emergency Tax Question? |
| I am moving to the UK in May to start a job. I will not have a national insurance number when I start. So I know I'll be in the emergency tax code for awhile, and I know that eventually I'... |
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 Who is Obama's $250,000 tax incentive really benifitting? |
| Ok so I heard about Barack Obama proposed tax relief bill to those who are making less than $250,000 but I was just wondering who will it really and truly benefit?.I say this because most politicians ... |
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 Can I claim my condo as a home business? |
| I am an indepedent contractor and I invoice my "employer" every month to get my paycheck. I get 1099 at the end of the year and what I charge is what I get. Meaning, no tax, SS, ... is ... |
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 British Tax Credits - Driving me mad please help!!!? |
Back in September we recived a letter saying Tax Credits owed us £599.67
I phoned and they said a payment had been sent - This was a massive relife my partener only earns £80 per week as ... |
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 Does anyone know whats up with irs "wheres my refund website"? |
| I did my taxes the 16th on efile the irs accepted it and said Id have it dd by feb 3rd...now it says we are sorry we do not have any info on your refund...and earlier it said please call the irs with ... |
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 Why are the people that paid the least amount of taxes getting a stimulus check? |
| I won't be getting a tax rebate check because apparently I made too much money. I busted my hump last year, paid a ton in taxes and now some trailer doosh is going to get a check and I'm ... |
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Natassia | In states that don't have income tax, is the sales tax higher? |
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Mark S
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New Hampshire has no state income tax and no sales tax. |
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Wayne Z
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Yes....and the property taxes are much higher.
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Duane L
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Of course it is, look at Florida...and home taxes, hone insurance, auto insurance and everything eles. |
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.
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In Wyoming where I live there is no income tax and sales tax is the same or lower than in neighboring Colorado. But property taxes are a bit higher. Wyoming is fortunate to have a wealth of natural resources that provide an enormous tax base and the state has excess funds because of it. Jobs in energy production and industrial construction are abundant here and while we have the smallest population of any of the states, Wyoming is relatively prosperous. |
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ninasgramma
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Property tax has nothing to do with your question. Property tax is not part of the state sales tax deduction.
When you itemize your deductions on Schedule A, you have a choice of deducting state and local taxes, or sales tax. In states that have no income tax, you would almost always be better off taking the sales tax. In such a case you would only take state and local taxes if your local county or city had taxes, or you owed another state.
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Judy1
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Nevada's is a little high, but most of the other states with no income tax have sales tax rates pretty much in line with the states that DO have an income tax. |
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travelguruette
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Sales taxes, property taxes. |
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deedeegallman
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each state determines its own sales tax depending on its own government economic progress also,all 50 states including the district of columbia is responsible for the same federal income tax. The two are not dependent on each other. |
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