Don’t overlook this deduction

Posted on Jul 12, 2011

The option of deducting state and local sales taxes in lieu of deducting state and local income taxes is still available for 2011. The sales tax deduction may be based on amounts in an IRS table, plus actual amounts paid for certain big-ticket items like cars. Or you can take the deduction based on actual receipts for sales taxes paid in 2011.

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