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#29
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| "Harlan Lunsford" <hlunsford[at]bellsouth.net> wrote: - quote - > Mark Rigotti, CPA wrote:
In 1955 I was not even a smile on my ma or dads face. They> > "Tom Healy" <thealycpa1[at]aol.com> wrote: > > > > It used to have charts, back when sales tax was deductible > > > > many years ago. Would it be reasonable to use those > > > > (assuming you could find them)? > > > > > > > Assuming you could find the charts/tables, they would be in > > > > 1985 dollars. You sure you want to do that? > > > I found them in the 1985 Package X (yes, I still have those > > > going back to when I first started in 1979). > > Tom, > > > Now you're dating yourself. Unfortunately, I've got you > > beat. I've got '78 on my shelf. > Anybody need 1955 tables? For sale. Good price. Accurate. met in '56 and married in '57. <BG -- Regards, Mark Rigotti << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#28
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| Harlan Lunsford <hnslunsford[at]bellsouth.net> wrote: - quote - > Mark Rigotti, CPA wrote:
Let me guess: BIR and not IRS?> > "Tom Healy" <thealycpa1[at]aol.com> wrote: > > > > It used to have charts, back when sales tax was deductible > > > > many years ago. Would it be reasonable to use those > > > > (assuming you could find them)? > > > > > > > Assuming you could find the charts/tables, they would be in > > > > 1985 dollars. You sure you want to do that? > > > I found them in the 1985 Package X (yes, I still have those > > > going back to when I first started in 1979). > > Tom, > > > Now you're dating yourself. Unfortunately, I've got you > > beat. I've got '78 on my shelf. > Anybody need 1955 tables? For sale. Good price. Accurate. __ Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#27
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| Mark Rigotti, CPA wrote: - quote - > "Tom Healy" <thealycpa1[at]aol.com> wrote:
Anybody need 1955 tables? For sale. Good price. Accurate.> > > It used to have charts, back when sales tax was deductible > > > many years ago. Would it be reasonable to use those > > > (assuming you could find them)? > > > > > Assuming you could find the charts/tables, they would be in > > > 1985 dollars. You sure you want to do that? > > I found them in the 1985 Package X (yes, I still have those > > going back to when I first started in 1979). > Tom, > Now you're dating yourself. Unfortunately, I've got you > beat. I've got '78 on my shelf. ChEAr$, Harlan Lunsford, EA n LA Mon, 8 Nov 2004 20:03:32 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#26
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| "Joan Kaapke" <joan_kaapke[at]nosyahoo.com> wrote: - quote - > I live in Texas and plan to itemize for 2004. I understand
Monday, November 08, 2004> I may be able to deduct sales tax. I don't have receipts, > so am wondering if there will be a table I can use to claim > the deduction? Sales tax here is 8.25%. IRS Sales Tax Tables May Offer Lower Deductions Than Expected Tables that the IRS is developing to implement the new sales tax deduction enacted under the export tax law will likely provide smaller values than expected, reducing the likelihood that those in states with income taxes will take the deduction, congressional sources say. The tables will probably provide values that seem low in light of the provision's cost of about $5 billion over two years, the sources say. Both the JCT and CRS have estimated the cost of the sales tax deduction at between $4.5 billion and $5 billion. The tables will provide the only likely means of taking the deduction for 2004, given that it was enacted late in the year and taxpayers probably have not been saving receipts to support a greater deduction. Milt Baker CPA Michigan << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#25
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| - quote - > I found them in the 1985 Package X
Boy, you guys are making feel like a baby!> I've got '78 on my shelf. I only go back to 1991. Kate, EA in PA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#24
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| Frederick Jorden wrote: - quote - > But if the IRS fails to provide the required tables by the
According to the current issue of the Kiplinger Tax Letter> due date of the return the taxpayer may have no choice but > to guestimate the deduction by judicious application of the > old tables. (a fairly reliable source on beltway scuttlebutt), the IRS plans to release tables in mid-December. We'll see... <g My state (WA) DOR has acknowledged the new deduction but defers to the IRS site for additional information. So, I'm not expecting to see any locally generated tables here. If all else fails, I will probably use the Texas table and adjust it upward for our slightly higher rate. MTW << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#23
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| "Tom Healy" <thealycpa1[at]aol.com> wrote: - quote - > > It used to have charts, back when sales tax was deductible
Tom,> > many years ago. Would it be reasonable to use those > > (assuming you could find them)? > > > Assuming you could find the charts/tables, they would be in > > 1985 dollars. You sure you want to do that? > I found them in the 1985 Package X (yes, I still have those > going back to when I first started in 1979). Now you're dating yourself. Unfortunately, I've got you beat. I've got '78 on my shelf. -- Regards, Mark Rigotti << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#22
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| Harlan Lunsford wrote: - quote - > Frederick Jorden wrote:
I'm about 95% sure that the IRS has said that they will have> > But if the IRS fails to provide the required tables by the > > due date of the return the taxpayer may have no choice but > > to guestimate the deduction by judicious application of the > > old tables. > And that of course is exactly what I'll do, dust off the old > tables, but surely IRS can and will react in time. > Hmm, wonder how much I can sell copies of those old tables > for? anybody need them? After all, somebody photocopies an > old 1913 1040 form (whatever it was called then) and made a > mint hawking to accountants to hang on the wall. > > Now the individual states could prepare tables for their > > taxpayers. They in fact may have a much better handle on how > > much their taxpayers pay in sales taxes. > Not too hopeful on this point. Not even sure if Alabama > will even pass legislation conforming to federal in this > area. and even Georgia might not conform. > It's going to be an interesting tax season, I think. the sales tax tables available. The only adjustment allowed by the taxpayer is the addition of motor vehicle and/or boat sales tax plus any adjustment for local sales tax. E.g., the state tax in CA is 6.25%. LA County tax is 8.25%. Taxpayers in LA County could add another 32% to the table amount. -- Alan http://taxtopics.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#21
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| "Frederick Jorden" <knowtax[at]bigfoot.com> wrote: - quote - > Harlan Lunsford wrote:
I found a pending sales tax table for the state of Texas at> > Frederick Jorden wrote: > > > But if the IRS fails to provide the required tables by the > > > due date of the return the taxpayer may have no choice but > > > to guestimate the deduction by judicious application of the > > > old tables. > > And that of course is exactly what I'll do, dust off the old > > tables, but surely IRS can and will react in time. > > > Hmm, wonder how much I can sell copies of those old tables > > for? anybody need them? After all, somebody photocopies an > > old 1913 1040 form (whatever it was called then) and made a > > mint hawking to accountants to hang on the wall. > > > Now the individual states could prepare tables for their > > > taxpayers. They in fact may have a much better handle on how > > > much their taxpayers pay in sales taxes. > > Not too hopeful on this point. Not even sure if Alabama > > will even pass legislation conforming to federal in this > > area. and even Georgia might not conform. > > > It's going to be an interesting tax season, I think. > I did not presume that states would jump to conformity but > that they would as a service to their citizens provide a > table that would help in the preparation of the 1040. www.window.state.tx.us/specialrpt/deduction04/ The source for this table is Carole Keeton Strayhorn, Texas Comptroller. I hope this will be helpful to those residents of Texas. I assume they will have a final table by the end of January or February. Joan << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#20
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| - quote - > It used to have charts, back when sales tax was deductible
I found them in the 1985 Package X (yes, I still have those> many years ago. Would it be reasonable to use those > (assuming you could find them)? > Assuming you could find the charts/tables, they would be in > 1985 dollars. You sure you want to do that? going back to when I first started in 1979). -- Thomas E Healy, CPA, PC 1650 38th St., Ste 202W Boulder, CO 80301 Please send email to: tom[at]tomhealycpa.com, since I block all email at my newsgroup address. phone (303) 443-1804 fax (720) 489-3772 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#19
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| Frederick Jorden wrote: - quote - > Now the individual states could prepare tables for their
Texas appears to have done just such a thing, albeit as> taxpayers. They in fact may have a much better handle on how > much their taxpayers pay in sales taxes. part of the lobbying to get a sales tax deduction: http://www.window.state.tx.us/specialrpt/deduction04/ Phoebe ![]() << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#18
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| Harlan Lunsford wrote: - quote - > Frederick Jorden wrote:
I did not presume that states would jump to conformity but> > But if the IRS fails to provide the required tables by the > > due date of the return the taxpayer may have no choice but > > to guestimate the deduction by judicious application of the > > old tables. > And that of course is exactly what I'll do, dust off the old > tables, but surely IRS can and will react in time. > Hmm, wonder how much I can sell copies of those old tables > for? anybody need them? After all, somebody photocopies an > old 1913 1040 form (whatever it was called then) and made a > mint hawking to accountants to hang on the wall. > > Now the individual states could prepare tables for their > > taxpayers. They in fact may have a much better handle on how > > much their taxpayers pay in sales taxes. > Not too hopeful on this point. Not even sure if Alabama > will even pass legislation conforming to federal in this > area. and even Georgia might not conform. > It's going to be an interesting tax season, I think. that they would as a service to their citizens provide a table that would help in the preparation of the 1040. -- Frederick E. Jorden http://Tax-Accounting-Payroll.com 7825 Midlothian Tpk - 207 Richmond, VA 23235-5247 EMAIL knowtax[at]bigfoot.com (804) 320-6210 FAX (804) 320-6211 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#17
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| - quote - > Now the individual states could prepare tables for their
And their motivation for telling the people how much is> taxpayers. They in fact may have a much better handle on how > much their taxpayers pay in sales taxes. costs to live in their fair state is ... ? -- Don EA in Upstate NY << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#16
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| Frederick Jorden wrote: - quote - > But if the IRS fails to provide the required tables by the
And that of course is exactly what I'll do, dust off the old> due date of the return the taxpayer may have no choice but > to guestimate the deduction by judicious application of the > old tables. tables, but surely IRS can and will react in time. Hmm, wonder how much I can sell copies of those old tables for? anybody need them? After all, somebody photocopies an old 1913 1040 form (whatever it was called then) and made a mint hawking to accountants to hang on the wall. - quote - > Now the individual states could prepare tables for their
Not too hopeful on this point. Not even sure if Alabama> taxpayers. They in fact may have a much better handle on how > much their taxpayers pay in sales taxes. will even pass legislation conforming to federal in this area. and even Georgia might not conform. It's going to be an interesting tax season, I think. ChEAr$, Harlan Lunsford, EA n LA Mon, 1 Nov 2004 16:22:46 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#15
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| Herb Smith <smithff33[at]aol.com> wrote: - quote - > sethb[at]panix.com (Seth Breidbart) wrote:
The income they were based on was in 1985 dollars, too.> > Bruce Raskin CPA <braskincpa[at]aol.com> wrote: > > > Unfortunately, the IRS has said it will not have the charts > > > ready untiol much later in 2005 if at all that year. > > It used to have charts, back when sales tax was deductible > > many years ago. Would it be reasonable to use those > > (assuming you could find them)? > Assuming you could find the charts/tables, they would be in > 1985 dollars. You sure you want to do that? I'd make the argument that those are the most recent tables published by the IRS for this purpose. If the IRS thinks they're obsolete, it can publish new ones at any time. Seth << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#14
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| Harlan Lunsford wrote: - quote - > ... After ALL; we have to be fair, don't we? grin
FAIR is a four letter word starting with an "F". :-)<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#13
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| Harlan Lunsford wrote: - quote - > Seth Breidbart wrote:
But if the IRS fails to provide the required tables by the> > Bruce Raskin CPA <braskincpa[at]aol.com> wrote: > > > Unfortunately, the IRS has said it will not have the charts > > > ready untiol much later in 2005 if at all that year. > > It used to have charts, back when sales tax was deductible > > many years ago. Would it be reasonable to use those > > (assuming you could find them)? > It may be a little more complicated than that. first place, > those charts were constructed based on AGI's common to the > 1970's and early 1980's. Over a certain amount one would > make an added adjustment, and not just pro rata, either as I > recall. > Secondly, some states have modified what is and is not > taxable Example is Georgia which does not taxes groceries > these days. Prepared foods yes, but staples, no. So the > Georgia chart would need to be shaved a wee bit to adjust > for this. Some states don't tax prescription drugs, so > resumably they would also get a shave. After ALL; we have > to be fair, don't we? grin due date of the return the taxpayer may have no choice but to guestimate the deduction by judicious application of the old tables. Now the individual states could prepare tables for their taxpayers. They in fact may have a much better handle on how much their taxpayers pay in sales taxes. -- Frederick E. Jorden http://Tax-Accounting-Payroll.com 7825 Midlothian Tpk - 207 Richmond, VA 23235-5247 EMAIL knowtax[at]bigfoot.com (804) 320-6210 FAX (804) 320-6211 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#12
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| Seth Breidbart wrote: - quote - > Bruce Raskin CPA <braskincpa[at]aol.com> wrote:
It may be a little more complicated than that. first place,> > Unfortunately, the IRS has said it will not have the charts > > ready untiol much later in 2005 if at all that year. > It used to have charts, back when sales tax was deductible > many years ago. Would it be reasonable to use those > (assuming you could find them)? those charts were constructed based on AGI's common to the 1970's and early 1980's. Over a certain amount one would make an added adjustment, and not just pro rata, either as I recall. Secondly, some states have modified what is and is not taxable Example is Georgia which does not taxes groceries these days. Prepared foods yes, but staples, no. So the Georgia chart would need to be shaved a wee bit to adjust for this. Some states don't tax prescription drugs, so resumably they would also get a shave. After ALL; we have to be fair, don't we? grin ChEAr$, Harlan Lunsford, EA n LA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#11
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| sethb[at]panix.com (Seth Breidbart) wrote: - quote - > Bruce Raskin CPA <braskincpa[at]aol.com> wrote:
Assuming you could find the charts/tables, they would be in> > Unfortunately, the IRS has said it will not have the charts > > ready untiol much later in 2005 if at all that year. > It used to have charts, back when sales tax was deductible > many years ago. Would it be reasonable to use those > (assuming you could find them)? 1985 dollars. You sure you want to do that? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#10
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| Seth Breidbart wrote: - quote - > Bruce Raskin CPA <braskincpa[at]aol.com> wrote:
1) The sales tax rate may have changed since 1986.> > Unfortunately, the IRS has said it will not have the charts > > ready untiol much later in 2005 if at all that year. > It used to have charts, back when sales tax was deductible > many years ago. Would it be reasonable to use those > (assuming you could find them)? 2) Cost of living and other adjustments may make the amounts "wrong" for today. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| deduction, sales, tax |
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