The option to deduct sales taxes instead of state income tax is set to expire at the end of 2013, so if you live in a state that does not have an income tax, you may want to consider buying that new car, boat, home theater system, etc. in 2013 instead of pushing it off to 2014.
2013 Tax Planning Consideration – Sales Tax
About the Author: Yulia Petrovskaya
Yulia is a Manager at Bregante + Company LLP providing tax and audit services to a diverse client base composed of closely held companies, high net worth individuals, and non-profit organizations.