Taxpayer asks: Can I deduct state sales tax for 2008 and deduct state income tax paid for another year (2007)?? Taxgirl says: Absolutely! There is no rule that the taxes must have been assessed in 2008 in order to take them as a deduction. Assuming that you itemize your deductions, you can deduct state and…
NOTE: This is from 2008. Welcome to my fourth in a series on state taxes! For information about what I’m trying to do, read my introductory bit. Next on the agenda, the bane of every elementary aged school child when it comes to spelling: Arkansas! ARKANSAS Population: 2,834,797 (32nd) Capital: Little Rock Largest City: Little…
NOTE: This article is from 2008. Welcome to my second in a series on state taxes! For information about what I’m trying to do, read my introductory bit. Next on the agenda: Alaska! ALASKA Population: 683,478 (47th) Capital: Juneau Largest City: Anchorage Gross Domestic Product: $160 billion GDP per capita: $43,748 (7th) 2004 election winner:…
Welcome to my series on state taxes! For information about what I’m trying to do, read my introductory bit. And now, without further ado, let’s get started! First up, Alabama! ALABAMA Population: 4,627,851 (23rd) Capital: Montgomery Largest City: Birmingham Gross Domestic Product: $160 billion GDP per capita: $29,697 (44th) 2004 election winner: George W. Bush…
Today, I kick off my series on state taxes! The plan is to make it from A to, er, W (Alabama to Wyoming). It’s worth noting that the series is meant to be a primer, not an exhaustive list of all taxes and rates applicable to any given states. I practice in New Jersey and…
It’s finally here! I’m kicking off my state tax series this week… beginning with Alabama and ending in a bit with Wyoming (sorry, Wyoming, you’re like the short kid in school). I’d love to hear your stories – I might be able to use them in the series. If you moved to or away from…
Although the IRS website was careful to note that the rebate checks would be withheld to satisfy federal obligations, checks are being seized by states in order to satisfy past due state income tax obligations. The seizures are part of the Treasury Offset Program (TOP). Under TOP, states may enter into agreements with the IRS…