Tax Deductions and Credits Everyday Taxes in Five Major U.S. Cities Read the Article Open Share Drawer Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to print (Opens in new window) Written by Published Feb 22, 2012 0 min read Whether you are a resident of a major city or you just traveled to one for something fun like the Mardi Gras, you most likely paid for items such as food, beverages, and gas. You may or may not, however, notice how much sales tax you paid and how much the taxes vary. Here is our infographic presentation showing how much everyday taxes may vary across five major cities. [intuit_tt_infographic id=9580] [tt_share_code url=”http://blog-turbotax-intuit-com-prelaunch.go-vip.net/wp-content/uploads/2012/02/everydaytaxesfnl1.png” width=”580″ height=”2401″ title=”EverydayTaxes” alt=”EverydayTaxes”] Previous Post TurboTax Answers Your Most Common Tax Questions Next Post Apples and Oranges? Standard Deductions vs. Itemized Deductions Written by More from 3 responses to “Everyday Taxes in Five Major U.S. Cities” Yes. Ins premium, dcotor visits, prescription drugs, contact lenses, and necessarily surgery or purchases are deductible. Over the counter drugs and unnecessarily surgery like boob jobs are not.You add them all up, substract any medical reimb and thats your medical tax deduction. but it is limited to 7.5% of your Adjusted Gross Income (which is your income adjustments), so if you make too much money you most likely cant take the benefit. If you want to save more money, add in you over the counter drugs. Reply Thank you for your response. There are two corrections. You can only add your over the counter drugs if your doctor writes a prescription for them and adjusted gross income is income after adjustments. Thank you, Lisa Greene-Lewis Reply Hi Snowball! That gowrth 5.5 is the real GDP gowrth, where the inflation has been substracted already. The nominal gowrth would be above 10%.The main change in Slovakia was a conceptual one – the taxes were designed to collect as much as the previous year. You can’t really see the effect of the Laffer curve immediately on the increased tax revenue. You see it on the GDP gowrth which will imply a higher revenue next year. It has some inertia.Laffer certainly did not claim that if you reduce the taxes to one half of the rate now, you will immediately get a higher revenue: sure that in the short term you will get one half of the previous revenue. But the point is that a reduced tax rate allows the subjects to be more active, grow, and pay more taxes next year or tomorrow. Reply Leave a ReplyCancel reply Browse Related Articles Crypto Understanding Crypto and Capital Gains Work 7 Things You Need to Know About the New Business Report… Work Using Form 8829 to Write-Off Business Use of Your Home Tax Tips Roth 403(b) vs. Roth IRA: Which Should You Invest In? Life Interest Rates, Inflation, and Your Taxes Investments Essential Tax Tips for Maximizing Investment Gains Uncategorized TurboTax is Partnering with Saweetie to Elevate Hoop Dr… Business Small Business Owners: Optimize Your Taxes with a Mid-Y… Small Business The Benefits of Employing Your Children and the Tax Bre… Income and Investments Are Olympics Winnings Taxed?
Yes. Ins premium, dcotor visits, prescription drugs, contact lenses, and necessarily surgery or purchases are deductible. Over the counter drugs and unnecessarily surgery like boob jobs are not.You add them all up, substract any medical reimb and thats your medical tax deduction. but it is limited to 7.5% of your Adjusted Gross Income (which is your income adjustments), so if you make too much money you most likely cant take the benefit. If you want to save more money, add in you over the counter drugs. Reply
Thank you for your response. There are two corrections. You can only add your over the counter drugs if your doctor writes a prescription for them and adjusted gross income is income after adjustments. Thank you, Lisa Greene-Lewis Reply
Hi Snowball! That gowrth 5.5 is the real GDP gowrth, where the inflation has been substracted already. The nominal gowrth would be above 10%.The main change in Slovakia was a conceptual one – the taxes were designed to collect as much as the previous year. You can’t really see the effect of the Laffer curve immediately on the increased tax revenue. You see it on the GDP gowrth which will imply a higher revenue next year. It has some inertia.Laffer certainly did not claim that if you reduce the taxes to one half of the rate now, you will immediately get a higher revenue: sure that in the short term you will get one half of the previous revenue. But the point is that a reduced tax rate allows the subjects to be more active, grow, and pay more taxes next year or tomorrow. Reply