I saved all my sales receipts for 2006, can I use the tax for state or federal income tax filing.?

Question

Who do I turn all the sales receipts I saved last year to use for income tax filings

Answer 1

It's a little more complicated than you're asking.

Usually only if they can be claimed as business expenses, medical expenses, etc. Too may deductions that can become questionable will get you set up for an audit.

As far as sales taxes...it is up to your state statutes and federal statutes.

Keep everything separated and listed, organized etc for acuracy.
One of the worst things a tax preparer sees is a shoe box full of receipts that aren't organized, or explanation for purchase etc on receipt.

My suggestion would be to hire a tax preparation specialist or tax accountant to help you with this.

Answer 2

Vague question... needs more info!

Assuming that you mean whether or not you can deduct the sales tax for either state or federal tax purposes.

What state do you live in?

Generally, people who benefit from the sales tax deduction are those who live in states with NO income taxes such as NH, WA, TX or FL, just to name a few.

You get the higher deduction of:
1. State income taxes paid or
2. Sales/use tax paid

This is provided that you itemize on your federal return.

This is also a federal tax law deduction not a state law deduction but each state is different!

You should seek help from a local tax professional!

Answer 3

If you itemize, you can add up all your receipts and deduct the sales tax you paid. You can do this or take the amount from a table for your state by income by family size.

If your state has an income tax, you can take state and local taxes OR sales tax, not both.

Answer 4

for the federal and state income tax details u browse the tax filing sites. hwere is one of the tax filing sites. this sitye not only files tax returns but this will gain u by providing 50% deduction

Answer 5

When you do your taxes they will ask you if you have any other taxes to claim,select yes then enter them. If you go to a tax place they will know what to do and if you do them online it will also ask if you have any other tax deductions. I used www.freetaxusa.com They are very helpful and really go into details about your tax return. I hope you get more of a refund because we pay ENOUGH taxes and not enough in our return.