How to Avoid Tricky Tax Traps:
From January 2005
Community Comments
Spark a community dialogue. Be the first to contribute by adding your comments.
Congress also gave taxpayers a choice of deductions for the new year — either state income tax or state sales taxes. The choice was intended primarily for residents of states that don't have a state income tax, but it might also come in handy for the Californian who won't show much income this year and still has the means to buy a lot of big-ticket items. For those who have trouble saving every single receipt, the IRS offers the option of using sales tax tables and adding the sales taxes actually paid for cars, boats and such.
And don’t forget the little things, says Kashiwagi: the vehicle license fees, the $100 contribution to a charity, even the safe-deposit box fee.
“It all adds up,” he says. “In the higher brackets, every dollar you find saves you another 35 cents in taxes.”
And don’t forget the little things, says Kashiwagi: the vehicle license fees, the $100 contribution to a charity, even the safe-deposit box fee.
“It all adds up,” he says. “In the higher brackets, every dollar you find saves you another 35 cents in taxes.”
The Magazine
Site Links
Prosper Plus +
- Get Prosper Plus to receive e-mail alerts, special event invites, and content that interests you.
Community
- Join the Community and start participating. It's fast. It's easy. It's free.
Advertise on this site! Show your support for the Prosper Network and reach influential thought leaders and web users like yourself. Contact us to find out how.
© 2004-2007 Prosper Media, LLC. All Rights Reserved. Terms of Use | Privacy Policy
The materials on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Prosper Media, LLC.
Community Comments