The American Recovery and Reinvestment Act of 2009 provides a deduction for state and local sales and excise taxes paid on the purchase of new cars, light trucks, motor homes and motorcycles through 2009. The deduction is available regardless of whether a taxpayer itemizes deductions on Schedule A. Purchases before Feb. 17, 2009, are not […]
Tag Archives: Deduction
Today TaxMama hears from Erin in Washington State who wants to know. “For the unused home office deduction, can I choose not to claim home office deduction in the years of loss and claim it when I make a profit?”
Today TaxMama hears from Ken who asks. “My wife was in a small fender bender that we did not report to the insurance company. We paid for the repair ourselves ($2000). Is this deductible on my tax return?”
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