Wednesday, February 13, 2013

Tax Tip of the Week

Sent to you by Steve Sherlock via Google Reader:

via Commonwealth Conversations: Revenue by Ann Dufresne-DOR Communications Director on 2/12/13

Here's a deduction you don't want to miss when filing your MA tax return--the rental deduction. You may be entitled to a tax deduction equal to one half of the rent you paid during calendar year 2012 up to $3,000 for your principal residence in MA. Rent includes the amount you paid for heat, hot water, gas, electricity, furniture or parking, if the landlord makes no separate charge for these items. In tax year 2011an estimated 818,726 taxpayers claimed the rental deduction reducing paying filers' taxes by $117.8 million.Go to the TheFilingZone for anything and everything you ever wanted to know about filing your state returns.

Things you can do from here: