Some tax can be deducted

The bad news for smokers — each pack has a state tax of $4.35 plus an eight percent sales tax or a 100 percent tax on a cheap brand.

The good news: That combined tax should be deductible from income taxes. In the above case — over $2,600 a year.

The comparable news — the gasoline tax is 45.6 cents a gallon or about 15 percent — with sales tax, 23 percent — also tax deductible. I also noticed there could be a $300 tax deduction on the land line phone bill. Meaning maybe we all should start thinking like millionaires who are infamous for minimizing their income tax payments.




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