Tax deductibles in massachusetts

Question

I would like to know what types of things are deductible on my taxes in massachusetts. I just got a job.

deductibles are amounts of money you claim on your taxes that reduces your total taxable income correct?

Answer 1

Mathew gives you the info for federal, not Massachusetts.

MA has a flat tax, after deducting amounts for yourself, your spouse if applicable., and any dependents.

Answer 2

You are basically correct about the function of "deductibles".  However there are two general type of deductions to be taken.  First are Standard Deductions which are an amount determined by the government based on your filing status that may be subtracted from your gross income without requiring any evidence of the dollar amount spent.  For a single person $5,450 and $10,900 for a married couple filing jointly in the 2008 tax year.   You will have the option in most cases of Itemized Deductions, however you must be prepared to provide evidence of the expense and that those expense comply with the IRS rules.  The later is where you would be concerned with what type of things would be deductible.  There are a very large number of rules that determine what is and is not deductible.  There are exclusions, which are limitations on the dollar amounts that further complicate the issue.

Most of the time folks, that are not home owners and therefore get to deduct the interest they pay, take Standard Deductions.        

Answer 3

Go to the MA DOR website and download or order a Form 1 Instruction Book. There are a few unique deductions which will be shown there.