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Tigz

Whoa....deducting sales tax?....

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Cool! I didn't know! It has been since Echo was a little tyke that we were able to deduct sales tax!

 

Now if they would only allow us to go back to deducting interest paid on credit cards.

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Supposedly the pres is trying to promote in means living and rational spending.. how bout a tax cut for people who have their credit bills below a certain amount, or are never late on their payments..

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Then the people who need it the most would not qualify.

 

A person can "live within their means" all they want......and then suddenly lose their job, have a stroke, have a flood/earthquake/tornado/hurricane hit where they live and lose everything they ever owned.

 

Not everyone who is late on a payment is a deadbeat.

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The "live within your means" life is bad for a consumer-based economy. Thus those who save money in a bank and earn interest on it have to pay tax on that interest.

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The "live within your means" life is bad for a consumer-based economy. Thus those who save money in a bank and earn interest on it have to pay tax on that interest.

 

I would venture to say that technology would not be where it is today if everyone "lived within their means"

 

Actually I would even go so far as to say that bad spending has created jobs and kept our economy afloat for several decades now. But just like a ponzi, it had to eventually cave in upon itself...and did.

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My understanding is that you can deduct sales tax, or income tax, but not both. Unless you're talking about the state level.

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My understanding is that you can deduct sales tax, or income tax, but not both. Unless you're talking about the state level.

 

hmmmm, I'm not sure. I'll have to go back and look.

 

Our taxes have already been done and sent in. I have to run by and pick them up, I'll look to see what our accountant did.

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Technically, you are supposed to (yourself) pay sales tax to the state on internet purchases that don't charge tax.  Example, I buy something on newegg and they don't charge me tax.  It is up to me to report it and pay my state's sales tax (even the local taxes).  
Of course, few people do that.  
Amazon started adding tax some time back...in a way it is only fair for other online retailers to be required to do the same.

 

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On 10/16/2019 at 5:33 AM, Tigz said:

Amazon started adding tax some time back...in a way it is only fair for other online retailers to be required to do the same.

Since Amazon opened warehouses in just about every state, they charge sales tax in said states.

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