Posts Tagged ‘sales.tax’
Sales Tax Deduction 2010
March 31st, 2010
Question: If Obamacare passes, will the 36% of the free loaders in the USA pay income tax now?
http://taxprof.typepad.com/taxprof_blog/2010/03/tax-foundation–1.html
This report shows that 36% of people do not pay federal income tax each year. With all of the deductions, child credits, etc. that people can take, 36% of the people either get 100% or more back on their tax return.
If Obamacare passes, will the 36% of societies free loaders now pay some sort of federal income tax? I am not talking about sales or property tax, I am talking strictly federal income tax.
Or will Obama continue with his “spread the wealth” program?
Answer: Nope. My prediction is that the amount of people who don’t pay taxes will actually go up and they will expect the “top 5%” to pay the bill.
Items on Amazon Right Now for Sales Tax Deduction 2010:
Alabama House panel approves bill for public vote on removing state sales tax on food
Approval of measure and successful vote would mean higher income taxes on state’s higher earners
Phoenix Overlords Approve Food Tax February 2, 2010
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Sales Tax Deduction Federal Income Tax
March 5th, 2010
Question: How much of federal tax return should I get if I have 21k in deductions and only made 29k?
How much of a return should I get if I have 21k in deductions and only 29k in income? Yeah I’m in sales and had a bad year with my bills from 80k a year 
Deductions are as follows:
Mortgage Interest: $7700
Property Taxes: $2000
PMI: $700
Mileage: $5000
Donations: $1000
Medical: $3000
Student Loan Interest: $1100
I’m curious how much of a federal return I will get?
I have 0 dependents and am a single 26 yo male living in Ohio.
Answer: Go to Hr Block tax estimator
Items on Amazon Right Now for Sales Tax Deduction Federal Income Tax:
2009: A year of major tax changes
The federal tax code undergoes a series of small changes each and every year.