The IRS Deductions Blog

Question: Where do I deduct my auto sales tax when filing?

I purchased a car in 2008 and now that I am filing my taxes online, I can’t find the option to deduct my sales tax. I live in TN. Does anyone know if I can make this deduction and where?
I am itemizing this year. I am using H& R but am not sure where in that process I would enter my sales tax information.

Answer: You may only claim sales tax if you do not deduct state income tax. If you itemize, you would checkout Publication 600 from the IRS to get the amount of sales tax you can claim and then add the sales tax generated by the auto. If the total is more than you paid in state/local income tax, then you should take the sales tax deduction, if not, you would want the income tax deduction.

All this assumes that you itemize your deductions. If you do not itemize, then you can’t claim the sales tax or income tax deduction.

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Press Briefing by Press Secretary Robert Gibbs, 7/14/2010

See below for answers to questions(marked with an asterisk) posed in the briefing that required follow up.   *The meeting lasted roughly an hour, and Valerie Jarrett also attended.     **By the day of groundbreaking, Compact Power estimates it will employ 70 in construction jobs.  This will rise to 200 by September and 300 at the peak of construction.  The factory will hire more than 300 full …

Recovery: Vehicle Tax Deduction-Claim It January 2010

Question: Does any one know about any 0 Deductible Health insurance plan with low monthly payment?

State California

Answer: Ultimately, you are the one who determines the affordability of your health insurance plan by deciding how much you will participate in sharing the cost of your health care with your insurance company.

If you choose a plan that covers everything i.e. doctors office visits, prescription drugs, preventative health benefits, maternity coverage as well as low deductibles and low copays or as you desire a 0 deductible your monthly premiums will be significant.

On the other hand if you are young and healthy and rarely use the health care system you could consider a plan that covers only the major health catastrophe which will result in a relatively low monthly premium. You then can use the monthly premium savings to pay for the occasional doctor visit and still come out ahead.

You need a trusted adviser to help you through the process of purchasing health insurance so that you understand what you are purchasing. That adviser can answer questions as to what is and is not covered by the policy, explain Deductibles And Copays and show you the hospitals and doctors that participate in the network. Check with the agent that writes your home or auto insurance he/she can provide you a health insurance proposal that takes into account your budget and health situation.

Some may suggest going on line to get a quote but you probably already know that there is much more to health insurance than price. Some might even “pitch” a discount plan that is not insurance at all. Use the Internet to educate yourself but use an agent to purchase the coverage.

Items on Amazon Right Now for Low Deductible Insurance:

News in brief

Here are a selection of brief news items from this week’s paper edition, and possibly a few news briefs that didn’t make it in the paper.

Health_Insurance_Costs_Part_2

Items on Amazon Right Now for Assurant One Deductible Ppo:

Why Compare California Affordable Individual Health Insurance Quotes: Video

Question: Do You Have To Pay The Whole Bill Before You Can Be Reimbursed?

OK, im talking about pet insurance. Do u have to pay the whole bill first or can u just pay part of the bill plus ur copay and deductible? Thanks.
The insurance is from PurinaCare. Also anybody that has this insurance on their pets, what do u think of the insurance? Is the price worth it or do u have a better place that i can get pet insurance from?

Answer: The way that pet insurance works, is that you ALWAYS PAY THE BILL, then submit to the insurance for reimbursement. The insurance will then reimburse based on your deductible and co-pays.

I doubt that any Vet would let you pay only your deductible and co-pay and then bill the insurance company, since that would not make a lot of sense.

http://www.purinacare.com/plan_overview.aspx

this is a link to purina care health plans. You might want to keep and save for future use in case you misplaced your policy.

http://petinsurancereview.com/

this is a link of comparing purina vs many other pet insurance companies that you might want to review.

I originally was going to get pet insurance for my golden retriever, but now that he has had 1 seizure, would preclude or make it too expensive to buy or be pre-existing and not covered.

But here is one of the major problems I encountered or read about. Many of the companies have what they call “usual and customary charges”, which is the same thing that health insurance does on people, but the difference is that in health insurance, most health insurance have a “negotiated contract” with the doctor so the charges are agreed to in advance.

Some people in this site complained that the “usual and customary charges’ they deemed were amounts that Vets have not charged in 10 years or more, thus even after you pay your deductible and co-pays, could be out of pocket for charges they deemed more than “usual and customary”. Pet insurance does not have “negotiated contracts” with Vets or Vet Hospitals.

So as an example you go to the Vet for the dog to be neutered. The Vet charges you $500. You have a deductible of $250 plus 80% copay, which means you would owe $250 deductible and 20% of $500 or addtl $100 and you think they will reimburse you $150 the balance. But say they believe the “usual and customary charges” should be $300, then you pay $250 deductible plus 20 % $60, which now totals $310, so they pay nothing.

Look at the site and read the reviews of pros/cons and then decide if this is good or not.

good luck

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The Basics Of Medical Billing $27.00 This no nonsense book tells you all you need to know to understand medical billing. Written by a mother/daughter team who have been running a medical billing service since 1994 it contains the facts without the fluff. Revised in June 2010 to almost double the content. It contains information about primary, secondary and tertiary claims, participation with insurance carriers, indemnity, hmos, pp…

The Profit Trap: Secrets the Health Insurance Industry Doesn’t Want You to Know (First in a Series) $24.95 Healthcare reform or not! If you buy, change, cancel or own health insurance of any kind (public, private or group) in your lifetime you better have this book first. America has been kept uneducated on purpose about how healthcare and health insurance really works for decades. Gain control over your quality, access and costs of your healthcare once and for all. Never be taken advantage of again by…

New Regulations for Preventive Benefits

Rules set to go into effect this fall mandate coverage of mammograms and more. Mammography – Insurance – Health – Medicine – Imaging

Deductibles and Coinsurances

Question: How can a 2 person plumbing company possibly clear $250,000 a year?

If Joe the Plumber has an operation that makes $250,000.00 a year in taxable profit, why did I go to medical school? Seems like if after expenses, payrolls, taxes, supplies, vehicles, advertising, rent, utilities, licenses, and all the other deductibles that a small business can claim, that if there is $250K left over, they should pay some taxes. This is not socialism, it is taxation and that runs the country.
So the present system we have of providing health care to the unemployed, via medicaid, food stamps for the indigent… that is socialism too? Come on, we are all in this boat together, and the “bail outs” have to save all of us.

Answer: Actually Joe would only have his taxes raised if he personally earns $250,000 in take home pay. That 2 man business would need to gross in the millions for him to be paid $250,000 a year as an owner. That argument is BS.
If I earned $250,000 I would have no problem in paying more taxes. I would be happy to pay more than a person earning less than me. I can’t understand the rich whining when many of them pay LESS in taxes than I do (and I an in the middle class)!

Items on Amazon Right Now for Deductible Vehicle Expenses:

Oak Grove fire chief resigns

OAK GROVE — The Oak Grove Town Council accepted the resignation of longtime Fire Chief Leon Dale at its Tuesday evening meeting. Mayor Charles Merkel said, “Leon has been wonderful for the town through the years, and we all know that.

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