We live in Texas, one of only seven or so out of the 50 states without a personal income tax. (We pay through the nose in sales taxes and property taxes, but that’s for another course…) Briefly describe what state & local taxes we can de-duct on Schedule A, and subject to what limitations.
We live in Texas, one of only seven or so out of the 50 states without a personal income tax. (We pay through the nose in sales taxes and property taxes, but that’s for another course…) Briefly describe what state & local taxes we can de-duct on Schedule A, and subject to what limitations.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
Section: Chapter Questions
Problem 8MCQ
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We live in Texas, one of only seven or so out of the 50 states without a personal income tax. (We pay through the nose in sales taxes and property taxes, but that’s for another course…) Briefly describe what state & local taxes we can de-duct on Schedule A, and subject to what limitations.
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