TaxAudit Blog

Tag: state tax

Double Taxation written on notepad

Most states that have income taxes offer a credit for taxes paid to another state on the same income, although how that credit is calculated is not identical.

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House sitting on money

Your son does not need to report or pay tax on the $70,000 you gifted him from the inheritance your wife received from her mother’s probate! Let's explore more.

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Paper Stacks with calculator

State agencies who collect income tax can audit your tax return. One of the most common reasons for a state audit is the audit of your federal tax return.

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Vacant Land For Sale

You can "deduct" real estate taxes paid over the course of owning a piece of land in the year the land is sold, if the land was vacant, but there is a catch.

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State and Local Taxes

You can deduct certain state and local taxes (SALT) if you choose to itemize deductions on your tax return rather than claiming the standard deduction.

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House prices going up

The reality is you can sell your house to your child, grandchild, or anyone else for that matter, for $1. But just because you can doesn’t mean you should.

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Man with ball and chain attached to leg

Tired of feeling like the government is taking your last penny? Having trouble making ends meet? There is a solution – provided you are willing to move.

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