dannygenio

if you are 43... how old is your father?..dam

CIONIDE

iTrader: (1)

63 and retired from the corporate world, only has his private tax practice now.

BTW, can you say shotgun?

Madode

The link states this is only for the 2004 and 2005 returns. Was this Act given an extension to allow for cars purchased in 2007? Am i missing a link somewhere?

namiboy

if you don't file state income tax, you can deduct all sales tax from your federal tax return. you have to itemize and if you don't own a house you probably won't itemize. if you do itemize, there is a standard deduction for sales tax based on how much income you have. the irs basically assumes if you make x dollars, you probably spent x dollars in taxes. so like i said, the sales tax deduction you can take is told to you by the irs. that, however, does not take into account a big purchase such as a car. so you would add the tax on that to your standard sales tax deduction. remember this is only for states that don't have state income tax and only if you itemize. i think i got that all correct.