Question
Explain the deductibility of state income taxes verses state sales tax. Also discuss the deductibility of a value-based tax verses a flat fee or flat
Explain the deductibility of state income taxes verses state sales tax. Also discuss the deductibility of a value-based tax verses a flat fee or flat tax. Lastly explain the limitations placed by the 2017 tax act.
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Step: 1
If a taxpayer decides to itemize the deductions and lives in one of the 43 states with income taxes in such a case heshe has the option to deduct eith...
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Income Tax Fundamentals 2020
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
38th Edition
978-0357108239
