Comments on: Pay Your Property Taxes and Sales Taxes Prior to Year End

By: Mr. ToughMoneyLove

Mr. ToughMoneyLove — Tue, 30 Dec 2008 03:02:49 +0000

Thanks for the mention and good job on the “don’t let the tail wag the dog” tip. Saving on taxes (or saving on anything) is never a good reason for buying something you don’t really need or cannot afford.

By: PennySeeds.com

PennySeeds.com — Tue, 30 Dec 2008 00:17:49 +0000

Thanks for the info! I didn’t know about the property tax deduction.

By: Patrick

Patrick — Mon, 29 Dec 2008 21:07:51 +0000

I deducted my sales tax when I lived in TX, but I’m in OH now so I deduct my state taxes… I miss the days of the low Texas taxes!

Thanks for the mention.

By: PT

PT — Mon, 29 Dec 2008 20:53:29 +0000

@FFB – Yeah, you can deduct any type of sales tax as an itemized deduction. Most people just take the estimate that the irs provides here: http://www.irs.gov/pub/irs-pdf/p600.pdf But with a car purchase it would likely be better to take the actual.

@hank – still, you’re in control. i hate giving my lender control of ins, prop tax, hoa. I just want to pay them for my house loan and not risk having them screw up other things. still, like you say, it can be a pain in the ars if you don’t have the auto save thing going on.

By: hank

hank — Mon, 29 Dec 2008 19:41:50 +0000

ahhh – nice, that’s one I didn’t think about! Paying the property taxes has been a huge pain in my a$$ since I didn’t wrap it in my mortgage. I initially set up an MMA to send money to and get the interest rate to get a few bucks extra, but forgot to set the auto withdrawl from the bank and had to find 3k “extra” last quarter, ugh…

By: FFB

FFB — Mon, 29 Dec 2008 18:42:15 +0000

Sales tax on a new car? Thanks for the info, I have to dig out my receipts and make sure I include that one!

By: Million Dollar Journey

Million Dollar Journey — Mon, 29 Dec 2008 18:28:40 +0000

Thanks for the mention PT – Happy Holidays!