Sales Tax deduciton

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  • Skeemo
    Member
    • Nov 2005
    • 39

    #1

    Sales Tax deduciton

    Is the sales tax deduction in force for 2007? If not opinions of the likelihood it will be extended...
  • solomon
    Senior Member
    • Aug 2006
    • 1012

    #2
    Yes

    but this is the last year. Extension? Who controls Congress.

    Comment

    • veritas
      Senior Member
      • Dec 2005
      • 3290

      #3
      More importantly

      what is going to happen with AMT? I'm thinking they are going to let it stay with the lower exemption.

      Comment

      • solomon
        Senior Member
        • Aug 2006
        • 1012

        #4
        With Biden

        introducing a bill to do away with the education credits and tuition/fees deduction and replacing with a new one, may be there will be some trade off with AMT hopefully.

        Comment

        • LTS
          Member
          • Nov 2006
          • 65

          #5
          what are they thinking?

          Originally posted by veritas
          what is going to happen with AMT? I'm thinking they are going to let it stay with the lower exemption.
          the current AMT exemption amounts are bad enough - not having been indexed or increased for years and years - the amounts need to be increased.

          if the exemption amounts are lowered ( i think this is what is proposed to happen?), the tea may again be dumped in the Boston harbor.

          Comment

          • Chief
            Senior Member
            • Jun 2005
            • 799

            #6
            Dump the tea in Boston Harbor

            and drink Crysal Delight. Its Peach Tea is better than the real stuff.

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