We have compiled a checklist of actions based on current tax rules that may help you save tax dollars if you act before year-end. Regardless of what Congress does late this year or early next, solid tax savings can be realized by taking advantage of tax breaks that are on the books for 2011. For individuals, these include: the option to deduct state and local sales and use … [Read more...] about Year-End Tax Planning Moves for Individuals
Tax planning for individuals
Last-Chance Opportunity to Deduct General Sales and Use Taxes?
For 2011, taxpayers have the option of deducting the amount of state and local income tax that they paid during the year or, if they so elect, of deducting their state and local general sales and use taxes as an itemized deduction on their federal income tax return. This choice is currently scheduled to expire at the end of 2011. If a taxpayer elects to deduct the sales and … [Read more...] about Last-Chance Opportunity to Deduct General Sales and Use Taxes?