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How to save on taxes page 2 tax saving strategies, tax saving tips

This is page two of a series on tax savings info (2008)

State sales taxes.


Every tax payer can use this deduction. 

It is most useful for those folks living in the states that don't impose a state income tax.

The choice is between deducting state sales taxes or  state income taxes.

Usually, for people living in states that impose an income-tax, you would do better to choose the income tax.

Home building materials are another to remember to consider.

The IRS provides tables for residents of states with sales taxes showing how much they can deduct.

If you bought a motor vehicle or even a boat or airplane, you can add the state sales tax that you've paid to the

amount given in the IRS tables that apply to your state.

As long as the sales tax rate that you paid isn't more than the state's general sales tax rate.

There is a calculator on the IRS web site to help you figure the deduction.

This varies by state and income level.

Moving expenses for first job.

For someone who moves themselves and their household goods more that 50 miles away for their first job,

their moving expenses are deductible.

You don't have to itemize this but you can use it as a deduction.

Use your own car and this can include 20 cents a mile as well as parking fees and tolls

(it may change so check it out )

Charitable contributions.

You may not remember the smaller charitable deductions. So try to keep track of all of them because they add up.

You can write off large and small expenditures that you have for doing charitable acts.

As far as the smaller contributions are concerned, things such as:

The money spent on postage and envelopes and printing for the little league fundraiser

counts as a charitable contribution.

The cost of making sandwiches for the non-profit homeless shelter.

The value of items or services donated for charity raffles, and much more .

You most likely won't be forgetting the larger charitable gifts by check or regular paycheck deduction.

Keep records.

Go to for many more tax saving tips pages.

 
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