TaxMan123.com

By Roger Chartier


United States of America IRS Tax Information

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State Sales Taxes

Every tax payer can use this deduction.  It is most useful for those folks living in the states that don't impose a state income tax.

The choice is between deducting state sales taxes or state income taxes. Usually, for people living in states that impose an income-tax, you would do better choosing the income tax.
Home building materials are another to remember to consider.

The IRS provides tables

For residents of states with sales taxes showing how much they can deduct.
If you bought a motor vehicle or even a boat or airplane, you can add the state sales tax that you've paid to the amount given in the IRS tables that apply to your state.

As long as the sales tax rate that you paid isn't more than the state's general sales tax rate. There is a calculator on the IRS web site to help you figure the deduction. This varies by state and income level.

Charitable contributions.

You may not remember the smaller charitable deductions. So try to keep track of all of them because they add up. You can write off large and small expenditures that you have for doing charitable acts.

As far as the smaller contributions are concerned, things such as:
The money spent on postage and envelopes and printing for the little league fundraiser counts as a charitable contribution.

The cost of making sandwiches for the non-profit homeless shelter.
The value of items or services donated for charity raffles, and much more.
You most likely won't be forgetting the larger charitable gifts by check or regular paycheck deduction. Keep records.
Read more extensive information about deductible donations

The IRS tells us "If you moved due to a change in your job or business location, or because you started a new job or business, you may be able to deduct your reasonable moving expenses but not any expenses for meals.

To qualify for the moving expense deduction, you must satisfy two tests.

Under the first test, the "distance test", your new workplace must be at least 50 miles farther from your old home than your old job location was from your old home.

If you had no previous workplace, your new job location must be at least 50 miles from your old home.

The second test is the "time test". If you are an employee, you must work full-time for at least 39 weeks during the first 12 months immediately following your arrival in the general area of your new job location.

If you are self-employed, you must work full time for at least 39 weeks during the first 12 months and for a total of at least 78 weeks during the first 24 months immediately following your arrival in the general area of your new work location.

There are exceptions to the time test in case of death, disability and involuntary separation, among other things.

If you are a member of the armed forces and your move was due to a military order and permanent change of station, you do not have to satisfy the "distance or time tests".

Moving expenses are figured on Form 3903 (PDF) and deducted as an adjustment to income on Form 1040. You cannot deduct any moving expenses covered by reimbursements from your employer that are excluded from income.

For more information on deductible and nondeductible moving expenses, please refer to Publication 521, Moving Expenses. Also refer to Publication 521 for information on moves to locations in and outside the United States".



For more detailed tax information go to www.irs.gov

Why We ExistRoger Chartier

We want you to be more informed.

A lot of people break out in a nervous sweat and get the shakes when it comes time to file their taxes.

The first time that I tried to file by myself left me with a feeling of confusion because I did not bother to read any information about how to go about it in a fair way, a way that didn't leave me broke and living in a cardboard box in the alley.

I just had at it without reading anything and it was overwhelming. I assure you that after all these years I won't get into a difficult situation like that without any proper info and good forms to file.

Some folks just file as fast as they can to get it over with. They loose out on a bunch of legitimate deductions and allocations that could have saved them a ton of money at tax time.

 I would rather be getting a nice tax refund than pay the IRS a lot of money. Pay attention to the details.

This gal just found out that she is getting a few thousand dollars back in taxes.
Can you see how happy she is?