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  2. Sales Tax Deduction: How to Claim and Save on Your 2025 Taxes

    www.aol.com/sales-tax-deduction-claim-save...

    According to the Tax Policy Center, the Tax Cuts and Jobs Act capped the sales tax deduction at $10,000 from 2018 to 2025. If you file individually, you can only deduct a maximum of $10,000 in ...

  3. Alternative minimum tax - Wikipedia

    en.wikipedia.org/wiki/Alternative_minimum_tax

    Each year, high-income taxpayers must calculate and then pay the greater of an alternative minimum tax (AMT) or regular tax. [9] The alternative minimum taxable income (AMTI) is calculated by taking the taxpayer's regular income and adding on disallowed credits and deductions such as the bargain element from incentive stock options, state and local tax deduction, foreign tax credits, and ...

  4. Pascal's calculator - Wikipedia

    en.wikipedia.org/wiki/Pascal's_calculator

    Pascal's calculator (also known as the arithmetic machine or Pascaline) is a mechanical calculator invented by Blaise Pascal in 1642. Pascal was led to develop a calculator by the laborious arithmetical calculations required by his father's work as the supervisor of taxes in Rouen . [ 2 ]

  5. A Guide to Property Taxes on Your Home - AOL

    www.aol.com/property-taxes-used-calculate-them...

    Calculate the property tax: 15/1000 x 500,000 = $7,500. The final property tax is $7,500. ... Adding an extra room, landscaping or upgrading a kitchen can drive up the property value. Understand ...

  6. Tax amortization benefit - Wikipedia

    en.wikipedia.org/wiki/Tax_amortization_benefit

    When the purchaser of an intangible asset is allowed to amortize the price of the asset as an expense for tax purposes, the value of the asset is enhanced by this tax amortization benefit. [1] Specifically, the fair market value of the asset is increased by the present value of the future tax savings derived from the tax amortization of the ...

  7. Is HELOC Interest Tax Deductible? - AOL

    www.aol.com/heloc-interest-tax-deductible...

    Adding a new room, deck or garage. Installing a new roof, HVAC system or water heater. Replacing or upgrading flooring, windows or doors. Finishing basements or attics to add liveable space to the ...

  8. How to calculate taxes on an inherited annuity - AOL

    www.aol.com/finance/calculate-taxes-inherited...

    Beyond income taxes, an heir may also need to calculate estate and inheritance taxes. Whether an annuity is subject to income taxes is a completely separate matter from whether the estate owes ...

  9. Use tax - Wikipedia

    en.wikipedia.org/wiki/Use_tax

    The use tax, like the sales tax, is assessed upon the end consumer of the tangible property or service, but the difference is who calculates the tax and how it is accounted for. The sales tax is collected by the seller, who is acting as an agent of the state and thus remits the tax to the state on behalf of the end consumer.

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