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Irs Offers Free State Sales Tax Deduction Calculator
By Richard A. Chapo
If you itemize your deductions, you may be in for a windfall on this years tax. Yep, Congress has renewed the optional sales tax deduction. Of course, you have to figure it out.

If you itemize your tax deductions, you already know that you can claim a deduction for the total state income taxes you paid during the year. Depending on your state, that can be a very large tax deduction. But what if you live in a state that doesn’t collect income taxes? For the last couple of years, you could claim a deduction for the total state and local sales tax you paid on your purchases. In fact, you can do this regardless of whether you live in a state that collects income tax or not.

The state sales tax

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deduction was set to expire at the end of the fiscal 2005 year. At the last minute, Congress renewed it. All and all, this is great news. One problem does exist, however. You need to figure out which deduction is going to be bigger, you state income tax or sales tax deduction. Well, the IRS is here to offer a bit of help.

The IRS has an excellent website. Yes, I am shocked to. Regardless, the agency is offering a free sales tax deduction calculator on the site. The beauty of the calculator is it already has the state and local sales tax rates built into the database. As a result, you don’t have to go hunt and peck for them.

People are often leery whenever the IRS offers anything free. In truth, the IRS has become much friendlier the last few years, just don’t ask someone being audited. Regardless, you can use the sales tax calculator without fear. All information is anonymous. The IRS records nothing regarding your personal information. They don’t even ask for it. In short, using it will not come back to haunt you!

If you itemize, it is in your best interest to determine whether the sales or income tax deduction will save you more money. Now you can use the free calculator provided by the IRS to make the determination quicker.

Article Source: http://www.Article-Warehouse.com

Richard A. Chapo is with BusinessTaxRecovery.com - providing information on getting help with your taxes.




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estate rate tax news:

Keep Spending Under Control By Using Cash
<p>If you're like most people, you probably use plastic for many of your daily purchases. Since more places take credit or debit cards and many of these cards offer rewards or cash back, it is no wonder they are so easy to use. But this convenience can come at a cost. If you don't keep detailed records of your spending, using the card can lead to spending more than you normally would.</p> <p>When you use cash for your regular daily purchases, you have a physical connection to your available money, and you can visually see how much you have and how much you spend. With a card, it's all digital and you may not review your purchases until the end of the day, week, or even month. By then, the money has long been spent. But with cash, you open your wallet or purse and immediately know how much you have available to spend, and it may keep you from buying something you don't need. So, if you have trouble keeping your spending under control, <a href="http://clk.about.com/?zi=1/1hc&#038;zu=http://financialplan.about.com/od/budgetingyourmoney/a/usecash.htm">you may want to consider giving cash a try</a>.</p><p style="background:#f5f3ef;border:1px solid #d5d0bf;clear:both;padding:.5em;"><a href="http://clk.about.com/?zi=1/1hc&#038;zu=http://financialplan.about.com/b/2012/01/31/keep-spending-under-control-by-using-cash.htm">Keep Spending Under Control By Using Cash</a> originally appeared on <a href="http://clk.about.com/?zi=1/1hc&#038;zu=http://financialplan.about.com/">About.com Financial Planning</a> on Tuesday, January 31st, 2012 at 20:42:52.</p><p><a href="http://clk.about.com/?zi=1/1hc&#038;zu=http://financialplan.about.com/b/2012/01/31/keep-spending-under-control-by-using-cash.htm">Permalink</a> | <a href="http://clk.about.com/?zi=1/1hc&#038;zu=http://financialplan.about.com/b/2012/01/31/keep-spending-under-control-by-using-cash.htm#gB3">Comment</a> | <a href="http://financialplan.about.com/gi/pages/shareurl.htm?PG=http://financialplan.about.com/b/2012/01/31/keep-spending-under-control-by-using-cash.htm&#038;zItl=Keep Spending Under Control By Using Cash">Email this</a></p>


<P><FONT face=Verdana,Geneva,Arial,Helvetica,Sans-Serif><STRONG>Wi-Fi around Chicago..</STRONG></FONT></P> <P><FONT face=Verdana,Geneva,Arial,Helvetica,Sans-Serif><FONT size=2>The Daley Center between Clark and Dearborn is&nbsp;now (as of September 2003) a wi-fi hot zone. I have not personally connected there, but the word is </FONT><FONT size=2>that the signal around Daley Plaza and Block 37 is strong. Click <A href="http://www.xchicago.com/main/article.php?articleID=413">here</A> for more information. </FONT></FONT></P> <P><FONT size=2>If you are outside of downtown Chicago,the UPS stores (formerly Mailbox Etc.)&nbsp;will have wi-fi access (for a fee) in mid-September as will many McDonalds (for a fee). <A href="http://www.computerworld.com/mobiletopics/mobile/story/0,10801,80914,00.html">UPS story</A></FONT></P> <P><FONT size=2></FONT>&nbsp;</P>

The preparation of a plan of administration and disposition of one's estate using a will, trusts, gifts, power of attorney, etc.