What is personal property tax? Do I qualify for a personal property tax deduction?
Personal property tax is an excise tax based on the value of the items that are mobile, such as vehicles and boats. You may qualify for a personal property tax deduction on your state and local taxes if the tax meets all of these requirements:
- In proportion to the value of the property
- Imposed on an annual basis, even if collected more or less than once per year
- Imposed on personal property
When do you need to claim disability on taxes? Learn more from the tax experts at H&R Block.
Review answers to the top four coronavirus stimulus bill questions from the experts at H&R Block. Find out what individuals and families need to know.
If you made a contribution to a candidate or to a political party, campaign, or cause, you may be wondering if your political contributions are tax deductible. The answer is no – donations to political candidates are not tax deductible on your personal or business tax return. The same goes for campaign contributions.
If you rack up job hunting costs, you could possibly deduct those expenses from your tax return. Learn more about deducting expenses from The Tax Institute.