Can These 4 Tax Tips From the IRS Save You Money This April 15th
The much Dreaded April 15th tax filing day is fast approaching.
Here are 4 tax tips direct from the IRS that can help save you money and aggravation.
1 - Sales Tax Deduction can help some taxpayers save money.
The deduction for sales taxes paid on everything from aerosol spray to washing machines maybe tax deductible.
Like most deductions these are only available if you itemize.
The rules are a bit tricky and you can only use this deduction if you don't claim the state income tax deduction.
For some taxpayers in states with low or no income taxpayers using this deduction can save you Money 2 - Tax Saving Autos The Energy Policy Act of 2005 created a series of tax credits for fuel-efficient vehicles like hybrids.
The IRS Lists more then 40 vehicles which if purchased in 2006 may qualify for this Credit 3 - Some much needed relief for Teachers.
The IRS allows teachers to deduct up to $250 for classroom supplies without having to itemize.
4 - Relief for Disaster Victims The IRS will allow you to deduct looses do to a natural disaster.
The IRS classifies a casualty as the damage, destruction or loss of property resulting from a sudden, unexpected or unusual event.
The losses can result from natural or man-made disasters.
People in St Louis maybe able to deduct looses from the Thunder Storms and power outages in the summer and Ice Storm and Power Outage in the winter.
Other disaster such as Fire, Theft, Flood, Mudslide and Vandalism just to name a few may qualify for savings.
The IRS web site has many more tax savings tips that most hard working taxpaying Americans can use to save money on their Tax Bill this coming April 15th.
Here are 4 tax tips direct from the IRS that can help save you money and aggravation.
1 - Sales Tax Deduction can help some taxpayers save money.
The deduction for sales taxes paid on everything from aerosol spray to washing machines maybe tax deductible.
Like most deductions these are only available if you itemize.
The rules are a bit tricky and you can only use this deduction if you don't claim the state income tax deduction.
For some taxpayers in states with low or no income taxpayers using this deduction can save you Money 2 - Tax Saving Autos The Energy Policy Act of 2005 created a series of tax credits for fuel-efficient vehicles like hybrids.
The IRS Lists more then 40 vehicles which if purchased in 2006 may qualify for this Credit 3 - Some much needed relief for Teachers.
The IRS allows teachers to deduct up to $250 for classroom supplies without having to itemize.
4 - Relief for Disaster Victims The IRS will allow you to deduct looses do to a natural disaster.
The IRS classifies a casualty as the damage, destruction or loss of property resulting from a sudden, unexpected or unusual event.
The losses can result from natural or man-made disasters.
People in St Louis maybe able to deduct looses from the Thunder Storms and power outages in the summer and Ice Storm and Power Outage in the winter.
Other disaster such as Fire, Theft, Flood, Mudslide and Vandalism just to name a few may qualify for savings.
The IRS web site has many more tax savings tips that most hard working taxpaying Americans can use to save money on their Tax Bill this coming April 15th.
