Quote:
Originally Posted by DixieGal
We are talking about taxes here, so there are many different "true facts." For us Alabamians, next year on our state forms we will have to include the federal rebate as "income" and the rebated tax will be re-taxed by the state. Is it clear as mud yet? 'Cuz I didn't mention that we always have to include our yearly regular federal tax refund to be taxed by the state. It's a tax on a tax on a tax and so on. However, with taxes being based on income.....
I WISH I PAID THE MOST TAXES IN THE U.S.!
Think about it
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I'm not sure how a rebate is income? So, I think you should strucutre your deductions so that you end up needing to pay a bit when you file. This way is will be an expense and you can deduct it from your state tax, right?
BOb