As a result, some folks in states with an income tax who've made certain big-dollar purchases, might actually be able to deduct more by opting for the sales taxes break.

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The simple fact is the government allows employers to collect for such EXPENSES, it does not require by law that the employers must deduct such expenses, nor does it require by law that employees must pay such expenses, and it most assuredly does not threaten the employees with civil or criminal penalties for refusal.

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Taxpayers who suffered disaster related losses which are not covered by insurance can deduct those casualty losses on a federal income tax return.

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For example, by allowing homeowners to deduct mortgage interest payments, the Code promotes home ownership over renting.

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However, once you deduct taxes, the return offered by CDs ends up being below the rate of inflation.

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Taxpayers affected by a natural disaster can deduct casualty losses on a federal income tax return.

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The law raises the threshold for allowed deductions from 7.5% of adjusted gross income to 10%, further burdening those with the largest medical expenses by limiting how much of these costs they can deduct on their taxes.

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Congress needs to act to help attract and keep good jobs in the United States by passing legislation that gives companies moving operations back to the U.S. a new 20 percent tax credit for moving expenses and pay for it by ending the tax break that allows companies to deduct expenses associated with moving operations overseas.

WHITEHOUSE: The White House