Note: This message is displayed if (1) your browser is not standards-compliant or (2) you have you disabled CSS. Read our Policies for more information.
March 3, 2014 – TaxTalk Blog
In these tough financial times all of us are looking for ways to reduce our state tax burden. Every penny has value, and any opportunity to save one, including its relatives (the dime, nickel, quarter, dollar) is at the top of our To Do list.
This is especially important to keep in mind when filing your state taxes. Here are a couple of deductions Indiana offers to help keep some of your hard-earned money in your pocket.
One note – your residence has to be subject to Indiana property tax for you to benefit from these deductions. For instance, college students living on campus probably aren’t eligible for the renter’s deduction because their dorm may not be subject to Indiana property tax.
Did you know that, while the homeowners and renters deductions are the two most commonly claimed ones, Indiana also offers around 20 other deductions, too? Maybe that caulk you replaced around your doors and windows last fall can be written off your taxes (it can – see insulation deduction); likewise, maybe some of the unemployment compensation you drew last year can come off, too. For information about these and all of Indiana’s deductions, click here.
Reducing your state tax liability and keeping a few extra bucks in your pocket – now that sounds like a good plan to me.
If you would like to submit a question or topic suggestions, please send them to firstname.lastname@example.org
Follow us on Facebook and Twitter.
New Publications for Special Tax
July 9. 2014
The department created three new newsletters for alcohol, tobacco, and special fuel taxpayers.
Indiana Tax Competitiveness and Simplification Conference
July 3, 2014
Last week, the department helped organize the Indiana Tax Competitiveness and Simplification Conference at the government center with more than 40 speakers and panelists and nearly 200 attendees.