Question

In: Accounting

Based on which taxpayer is most likely to benefit by deducting state and local gerneral sales...

Based on which taxpayer is most likely to benefit by deducting state and local gerneral sales tax rather than the amount of state and local income taxes paid during the year? A. kim who purchased a lot of consumer goods during the year but neglected to keep her receipts B. rick self employed contractor who pays high sales tax onmaterials he used in his business. C. Terry who lives in high state taxes D. Maureen lives in state with no state tax

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Answer- option C ,Terry who lives in high state taxes.

Explanation:-

In the event that you live in an express that doesn't have a business charge, at that point the annual expense allowance is likely for you. The equivalent goes for individuals in high personal duty states, Riker says. "All around, for most enormous pay workers in states, for example, California or New York or different states that have state annual assessment, you as a rule find that it's better for people to take the state personal expense derivation since it's normally bigger," he says. Then again, in the event that you live in a state with no personal duty, the business charge derivation will presumably be the better decision.


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