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2. The Best Tax Deductions and Tax Breaks for 2024-2025 - AOL

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   Local and State Sales Tax. ... The standard deduction amounts for tax year 2024 are as follows: Single filers: $14,600. Married filing separately: $14,600. Married couple filing jointly: $29,200.

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

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   Your sales tax deduction is capped at $10,000 per year, but can help reduce your taxable income. What items are eligible for itemized deductions? When you itemize your tax deductions, you can ...

4. Trump’s back in office — here’s what to expect for your taxes ...

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   On the campaign trail, Trump promised a variety of tax breaks, including removing the TCJA’s $10,000 cap on the deduction for state and local taxes, and eliminating taxes on tip income, overtime ...

5. Sales taxes in the United States - Wikipedia

   en.wikipedia.org/wiki/Sales_taxes_in_the_United...

   The highest sales tax in Washington is on liquor. The spirits sales tax is 20.5% of the value of the product purchased [216] and a $3.7708 per liter spirits liter tax is assessed on spirits sold to consumers. [217] 1 April 2008 saw tax increases in King County (+.001), Kittitas County (+.003), Mason County (+.001), and the city of Union Gap ...

6. Tax deduction - Wikipedia

   en.wikipedia.org/wiki/Tax_deduction

   A tax deduction or benefit is an amount deducted from taxable income, usually based on expenses such as those incurred to produce additional income. Tax deductions are a form of tax incentives, along with exemptions and tax credits. The difference between deductions, exemptions, and credits is that deductions and exemptions both reduce taxable ...

7. What are the tax brackets for tax years 2024 and 2025? What ...

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   For married couples filing jointly for tax year 2024, the deduction increased to $29,200, up $1,500 from tax year 2023, the IRS said. The IRS noted that for the head of household, the standard ...

8. State and local tax deduction - Wikipedia

   en.wikipedia.org/wiki/State_and_local_tax_deduction

   Eligible taxes include state and local income taxes, property taxes, and either state and local sales taxes or state and local general sales taxes. [ 8 ] To claim the deduction, taxpayers must itemize their deductions on Schedule A of Form 1040 .

9. End of Trump tax cuts would see 62% pay more—how ... - AOL

   www.aol.com/finance/end-trump-tax-cuts-see...

   From lower federal rates to the cap on state and local property tax deductions, there is much at stake. ... than $10,000 in state and local income or sales and property taxes, ... 2024 is $13.61 ...