It's Tax Day in the U.S. - Did You File?

I thought state income taxes were deducted from your taxable income even if you took a standard deduction (I live in a non-state-income tax state, doesn't matter to me). Can you deduct state sales taxes?

Can i deduct the mileage cost of driving to work as a business expense?

I live in a state w/ no state income tax, i have no school related expenses, no kids, no medical problems, don't own a house, and my charitable contributions won't amount to anything. I always figured I got nothing to deduct anyways, and I may be right.

>anything. Whatever financial institution you deal with will send you
>a 1099 form that's got all your info on it. You have to report even
> the tiniest dividend (well, at least you're supposed to).

A few years ago I forgot to include some dividend for a small amount ($100 or so), and I got a letter from the IRS telling me that the bank reported the income to them and I had to pay it. I ignored it, and nothing happened to me. I am an evil tax cheat.

I've been saying this for two years at least. But next year for real! Especially since I think I can write off broadband and Tivo!

My accountant RULES.

:*(

why doesn't it just come out of your pay packet every month like normal people?

yeah, if you're self-employed things might get a bit complicated (see mark's post above), but the rest of us live in pretty much blissful ignorance as it's deducted at source, before it even gets to our bank account...

The US tax code is a fucking blunt instrument for social engineering. It's despicable. created by cretins and plundered by all. It's hideous. It's unfair. Fuck the 16th Amendment or whichever one it is.

Today is a good day to drop by:

fairtax.org

The past 9 years are proof that the GOP cannot be trusted with shrinking the tax code or the government. BUT -- we can at least credit the GOP for shifting burden of proof in Tax Court to the IRS.

The problem, from what I see, is what you call the "allowance", called the "deduction" here in th US, varies depending on many, many, many, many things (= the fucked-up-ness of the tax code). So the "standard" deduction taken monthly out of your wages is a wild guess unless you happen to take the standard deduction (I do, most don't).

Also, taxes on investment type income is usually not withheld.

This time last year I had finally finished paying off a $1400 federal tax bill. One year with no monthly payments! woo hoo!

I do itemized deductions, because I pay mortgage interest and had medical expenses that my employer didn't cover. (FYI: you can only deduct those medical expenses over a certain percentage of your income. As my employer doesn't provide health insurance, this wasn't a problem.)

Fucking depressed right now.

I mean, don't get me wrong, taxes are great and all, but -- BLEH!

I guess being an unemployment collecting freelancer is not the way to beat to the system.

This is going to put a serious dent in my new electronic lust items buying.

Will I make the midnite date?

and the IRC has been very good to me ... at least till 2010 (and then only for one year! [unless we don't get rid of the repigs come 2004])

i'm getting an LL.M. and i don't know much about the AMT (except where in the Code it is)! nor do most tax lawyers or accountants, for that matter.

So if you are an employee then the tax system works automatically for you, you inly have to apply for things such as tax credits (child, pensioner etc.) but tax credits is just a fancy name for benefits.

The most basic investments, savings, bonds, even some mutual funds, deduct tax automatically although at the mid band tax rate, if you pay low rate tax you have to claim it back if you pay high rate tax you have to file a return.

We also have 17.5% VAT sales tax on everything apart from books, newspapers, food (to eat at home, i.e groceries and take away but not restaurants), childrens clothes, and its only 5% on fuel/electricity.

Local taxes are based on the property value and are paid by whoever is resident in the property. There's a 30% discount if there's only one person resident in the property otherwise its the same however many people are there. Its deeply regressive.