Tax Deductions and Credits Everyday Taxes in Five Major U.S. Cities Read the Article Open Share Drawer Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to print (Opens in new window) Written by Published Feb 22, 2012 Whether you are a resident of a major city or you just traveled to one for something fun like the Mardi Gras, you most likely paid for items such as food, beverages, and gas. You may or may not, however, notice how much sales tax you paid and how much the taxes vary. Here is our infographic presentation showing how much everyday taxes may vary across five major cities. [intuit_tt_infographic id=9580] [tt_share_code url=”http://blog.turbotax.intuit.com/wp-content/uploads/2012/02/everydaytaxesfnl1.png” width=”580″ height=”2401″ title=”EverydayTaxes” alt=”EverydayTaxes”] Written by More from Browse Related Articles Life Listen Now: So You’re Buying a Car? Self-Employed 1099-K Myths: Venmo & PayPal Payments Life Listen now: So you want to be rich? Tax Refunds How to Turn Money Into More Money Life Listen now: So you’re buying a home? Family So You’re Living Together? Tax Planning Did You Miss the Tax Deadline? 3 Steps You Can Take Nex… Tax Planning Tomorrow is the Tax Deadline: 7 Things You Need to Know… Self-Employed Do Creators Pay Taxes on Money Earned? Tax Refunds Let’s Have A Real Money Talk 3 responses to “Everyday Taxes in Five Major U.S. Cities” Yes. Ins premium, dcotor visits, prescription drugs, contact lenses, and necessarily surgery or purchases are deductible. Over the counter drugs and unnecessarily surgery like boob jobs are not.You add them all up, substract any medical reimb and thats your medical tax deduction. but it is limited to 7.5% of your Adjusted Gross Income (which is your income adjustments), so if you make too much money you most likely cant take the benefit. If you want to save more money, add in you over the counter drugs. Reply Thank you for your response. There are two corrections. You can only add your over the counter drugs if your doctor writes a prescription for them and adjusted gross income is income after adjustments. Thank you, Lisa Greene-Lewis Reply Hi Snowball! That gowrth 5.5 is the real GDP gowrth, where the inflation has been substracted already. The nominal gowrth would be above 10%.The main change in Slovakia was a conceptual one – the taxes were designed to collect as much as the previous year. You can’t really see the effect of the Laffer curve immediately on the increased tax revenue. You see it on the GDP gowrth which will imply a higher revenue next year. It has some inertia.Laffer certainly did not claim that if you reduce the taxes to one half of the rate now, you will immediately get a higher revenue: sure that in the short term you will get one half of the previous revenue. But the point is that a reduced tax rate allows the subjects to be more active, grow, and pay more taxes next year or tomorrow. Reply Leave a Reply Cancel reply
Yes. Ins premium, dcotor visits, prescription drugs, contact lenses, and necessarily surgery or purchases are deductible. Over the counter drugs and unnecessarily surgery like boob jobs are not.You add them all up, substract any medical reimb and thats your medical tax deduction. but it is limited to 7.5% of your Adjusted Gross Income (which is your income adjustments), so if you make too much money you most likely cant take the benefit. If you want to save more money, add in you over the counter drugs. Reply
Thank you for your response. There are two corrections. You can only add your over the counter drugs if your doctor writes a prescription for them and adjusted gross income is income after adjustments. Thank you, Lisa Greene-Lewis Reply
Hi Snowball! That gowrth 5.5 is the real GDP gowrth, where the inflation has been substracted already. The nominal gowrth would be above 10%.The main change in Slovakia was a conceptual one – the taxes were designed to collect as much as the previous year. You can’t really see the effect of the Laffer curve immediately on the increased tax revenue. You see it on the GDP gowrth which will imply a higher revenue next year. It has some inertia.Laffer certainly did not claim that if you reduce the taxes to one half of the rate now, you will immediately get a higher revenue: sure that in the short term you will get one half of the previous revenue. But the point is that a reduced tax rate allows the subjects to be more active, grow, and pay more taxes next year or tomorrow. Reply
