Archive for the ‘United States’ Category

Buying a second home in another state to save on income taxes?

Saturday, June 21st, 2008
jimmyshutter asked:


I travel for a profession and am planning to buy a second home to use as my residency and decreased tax purposes.

I plan to let my daughter stay at my original home (different state) and to use as a vacation home.

Is there anything I should be aware of for income tax purposes? The company I work for only asks of where I live.
The question is in regards to State Income Tax.

My travel company asks where I’m residing. I plan on purchasing property in a state which has no income tax.

Will I be exempt from paying income tax to my original state of residence even though I own property there? Thanks

Vanessa

Where can I find free, up-to-date tax information that will help me optimize the amount of money I can save?

Tuesday, June 17th, 2008
drapper25 asked:


I work for a community resource agency that assists people in the community with developmental disabilities, mental retardation, etc. They pay me mileage when I meet with clients but I’m curious to know whether I can claim some other aspect of this job’s travel requirements. I already know about deducting food and entertainment expenses and getting %50 so I don’t need any advise about that. I’m also good about the unreimbursed business expenses too like: computer, paper, stuff like that I seem to have a handle on. I purchased a washer and dryer this year - can I deduct that somehow? What about a new TV? What about car parts and the tools I used to replace them? Can you suggest a software that will help me do my taxes with itemized deductions? Thank you ahead of time for your response. Any and all help appreciated even if I said I already know about it!! You might know something that I don’t. ~ Thanks ~

Theodore