Archive for the ‘http://www.pftown.com/2004/10/’ tag
New legislation lets itemizing taxpayers deduct sales taxes
The next time you go shopping, hold on to your receipts. It will make it a lot easier to return those leopard-skin pants you purchased in a moment of midlife madness. And even if you decide to keep the pants, the receipt may help you lower your tax bill. A corporate tax bill approved by Congress last week gives taxpayers who itemize the choice of deducting state and local sales taxes or state income taxes on their federal tax returns. The bill is expected to be signed by President Bush. Read the rest of this entry »