What does this tax question mean? If you paid state & local income taxes in 2007 for a prior year?
Me asked: “If you paid state and local income taxes in 2007 for a prior year (such as taxes paid in 2007 as a balance due on your 2006 state income tax return), include this amount as other state and local income taxes paid.
Other state and local income taxes: $____”
While filing online, I got [...]
Can your state income tax be a deduction on your federal taxes?
van_wyhe_halen asked: I am doing my taxes by myself for the first time, and I heard somewhere that your state income taxes can be a write off on your federal income tax. Is that true?
Why is the tax on gasoline less than the tax on cigarettes?
rollo_tomassi423 asked: Federal and state taxes on gasoline are only about 36 cents per gallon but the combined tax on a pack of cigarettes is over a dollar. But gasoline causes way more harm than cigarettes, including environmental harm, health, and quality of life.
How does the tax deduction work for state and county transfer taxes?
Mike F asked: My wife and I are buying a new house in MD where the state and county transfer taxes will be about $8000. We are going to close in December this year, but will probably take a standard deduction. Can we deduct the property transfer tax even though we are [...]
