Let's Talk Business

pennypincher asked:


We do not itemize our federal taxes. Still we pay $600 more per year in state taxes than in federal.
I live in Indiana.

Caribou2 asked:


I hear so much about how you won’t have enough to itemize to overcome the standard deduction if you don’t own a home.

However, I paid almost $4000 in state taxes in 2006, which is close to my standard deduction of $5150 (single). I’ve heard that you can itemize state taxes. Does that mean many people can have enough to itemize (using their state taxes) without owning a home?

Pinky asked:


We did our taxes and owed the state, but had no money to pay it. We mailed our filled out tax forms before the deadline without money. We received money back from the federal taxes and now want to pay our state taxes. How do I do this? What is the address to mail it to? How do I know it will be applied to ‘our tax bill’? Can I go there in person? Where is the office at to pay cash in person?

van_wyhe_halen asked:


I am doing my taxes by myself for the first time, and I heard somewhere that your state income taxes can be a write off on your federal income tax. Is that true?