Last-minute tax tips

Deduct state and local taxes

The deduction for state and local sales taxes was renewed for 2008 and 2009. Therefore, taxpayers who itemize may choose between deducting either state or local sales taxes and state and local income taxes. This can be a big benefit for taxpayers living in states with either no income tax or low income taxes.

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Deduct state and local taxes The deduction for state and local sales taxes was renewed for 2008 and 2009. Therefore, taxpayers who itemize may choose between deducting either state or local sales taxes and state and local income taxes. This can be a big benefit for taxpayers living in states with either no income tax or low income taxes.