The IRS Deductions Blog

Posts Tagged ‘stimulus’

Question: Tax deduction for automobile purchase tax paid?

I live in Michigan, purchased a used car from a private party and paid the tax on it at the secretary of state. Will I get a paper ion the mail for this for my taxes?

Answer: No, you already got a receipt when you paid the tax.

You can either deduct state income taxes OR state sales taxes paid if you itemize your deductions. You may take whichever works out best for you.

There’s a sales tax rate table that you must use but you can add the sales tax for major purchases such as a motor vehicle.

If you don’t itemize, you don’t get any deduction at all for that.

Items on Amazon Right Now for Tax Deduction Automobile Purchase:

Offutt volunteers ready for tax season

It’s the start of a new year. For many Americans that means putting away holiday decorations, making resolutions and returning to work. For most Americans, it also means it’s time to gather necessary forms and receipts for the Internal Revenue Service.

Question: Tax Deductions?

Does anyone know what you are able to get deductions on? I hear it’s from mileage to prescriptions to 401k to have a checking and savings account! Is this for real? I am single, no kids, not in school, don’t own a home and have not donated to any charities this year. Is there any hope for me? Oh yeah – I did purchase a car – someone told me that’s a deduction too! Are these people for real?

Answer: the ones on here are not especiually the ones that wants to claim double head of households…..but if the car is used for business then yes a portion of it is deductable. Everything else start reading http://www.irs.gov

Items on Amazon Right Now for Tax Deduction Car Purchase:

IRS will begin regulation of paid tax preparers

Paid tax preparers will have to register with the federal government, pass competency tests and follow ethical standards under rules that will take effect sometime after the current filing season, Internal Revenue Service…

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