The Best Money Saving Tax Tips for Each State
Paying taxes may be a fact of life, but depending on where you live, you may be able to keep a little extra money in your pocket thanks to some state-specific tax breaks. From socking away money in a college savings fund to donating to a charitable cause, there are plenty of ways to save money with available tax credits and deductions -- if you qualify. While heading into tax season, shoebox of receipts in hand, keep in mind these money-saving tax tips from each state.
(Be sure to consult a tax adviser to confirm benefits that might be available based on your state or individual status.)
Taxpayers who itemize deductions can take advantage of several state-specific tax credits while getting a federal deduction for the same charitable deductions. The credits include donating to the state's public school system (up to $200 for individuals and $400 for family) even if you don't have a student enrolled. Taxpayers can also donate to a qualifying state foster care charitable organization, the Arizona State Department of Veteran Services, and organizations that help the working poor. Other items that may be deductible include license plate fees and medical expenses.
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