Finance Blog

Stay financially savvy with the Equifax Advisor.

Sign up for our FREE Monthly Email Newsletter


Thank you for signing up for the FREE Equifax monthly newsletter

In addition to keeping in the financial know, you may be interested in checking your credit score and report.

Understand your credit. Help protect your identity.

Equifax Complete™ Premier Plan

  • Know What May Influence Your Credit Score and Be Alerted of Changes
    Credit score monitoring with custom alerts
    Important Disclosure: The Equifax credit score and 3-Bureau credit scores are based on an Equifax credit score model and are not the same scores used by 3rd parties to assess your creditworthiness.¹
  • Help Protect Your Identity
    Automatic fraud alerts encourages lenders to take extra steps to verify your identity²
  • Lock Your Credit
    The ability to lock and unlock your Equifax Credit Report³
Save 75% your first 30 days with the purchase of Equifax Complete™ Premier

$4.95 for the first 30 days, then $19.95 per month thereafter. You may cancel at any time; however, we do not provide partial month refunds.4

¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.

²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.

³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com/.

4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.

Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.

Sales Tax - Are All Those Receipts Worth Saving?

Written by Eva Rosenberg on July 12, 2011 in Tax  |   9 comments

Did you know that some states—including Alaska, Delaware, Montana, New Hampshire, and Oregon—have no state sales taxes at all? On the other hand, some states have a complex variety of local sales taxes with which you may want to be familiar. Deducting sales tax for…

Did you know that some states—including Alaska, Delaware, Montana, New Hampshire, and Oregon—have no state sales taxes at all? On the other hand, some states have a complex variety of local sales taxes with which you may want to be familiar.

Deducting sales tax for a vehicle purchase

When you itemize your deductions (use Schedule A), you have a choice between deducting your sales taxes or the state income taxes you paid. Not both. That went out in the Tax Reform Act of 1986, although, for one year, in 2009, you were able to deduct the sales taxes on vehicles you bought.

This year, there’s still a residual of that deduction left. Folks who bought vehicles in 2009 but who didn’t pay the sales taxes on them until 2010 are still allowed to deduct those sales taxes on the 2010 Schedule L. To whom would that apply? Someone who bought a car out of state, where there were no sales taxes or lower sales taxes, and got caught, might have had to pay up the following year.

Is it worth adding up all the receipts?

The IRS allows you to deduct sales taxes based on your income level, family size, and state of residence. You’ll find the sales tax tables in the instructions to Schedule A, pages 12-13. Can you do better than the IRS’s allowance?

I’ve seen eager, organized people who have saved all their receipts for the year. At the end of the year, they have an entire shopping bag full of receipts—and they add them all up. Do they come out better than the IRS’s sales tax tables?

Sometimes. The IRS’s tables are built on average shopping patterns for people at various income levels. If you or your family have a tendency to spend more money on taxable merchandise than the average family, save the receipts. Otherwise, you’re wasting your time.

However, when you prepare your tax return, be sure to let the software you’re using know the additional sales taxes charged in your area. The tax software has the state rates built in, but it should allow you to enter your local additional taxes.

For instance, the state sales tax rate in California is 8.25 percent. Living in Los Angeles County, I pay 9.75 percent. However, there are two or three cities within Los Angeles County that pay 10.75 percent. Do you see why it’s worthwhile to enter that adjustment? Look up the rate for your area on the Sales Tax Clearinghouse website, or on your state’s website, if you’re not sure what you’re paying.

TaxMama’s tip

Here’s a little secret about the sales tax versus state tax decision. When you deduct state income taxes and have a state income tax refund on the following year’s tax return, you must pay taxes on that refund.

However, if you deduct state sales taxes and have a state income tax refund the following year, you don’t pay tax on that refund.

Why? Because you never deducted state income taxes. So you don’t have to pay tax on refund if you never got a tax benefit from a deduction.

Read More:
How to Avoid Getting Taxed for Phantom Income and Debt Forgiveness
Teens and Taxes: Do I Need to File Taxes?
Tax Differences between Buying and Renting
Writing Off the Family Vacation

The information contained in this blog post is designed to generally educate and inform visitors to the Equifax Finance Blog. The blog posts do not give, and should not be assumed to provide, personalized tax, investment, real estate, legal, retirement, credit, personal financial, or other professional advice. Before making any financial decision, you should always consult with the appropriate professionals who can explain your options, rights, and legal responsibilities, and advise you on any tax, legal, credit, or business implications that may result from those decisions. The views and opinions expressed by the authors of blog posts are their own views and may not be the views or opinions of Equifax, Inc. and/or its affiliates.


  1. Hello. remarkable job. I did not imagine this. This is a excellent story. Thanks!

  2. Pingback: Homeschooling Tax Benefits and Tax Breaks | Equifax Finance Blog

  3. Pingback: Paying Taxes While Living Abroad | Equifax Finance Blog

  4. Pingback: Tax Tips and Tax Consequences of Failed Businesses | Equifax Finance Blog

  5. Pingback: Saving Money: Could You Benefit from the Savers Tax Credit? | Equifax Finance Blog

  6. Pingback: Paying Taxes: How Is Your Vice Taxed? | Equifax Finance Blog

  7. Pingback: Filing Taxes: Seven Reasons to Adjust Your Withholding Before the End of the Year | Equifax Finance Blog

  8. Anonymous says:

    I don’t understand what I’m supposed to do with all my receipts. A friend told me I could receive money for saving them.

  9. chris says:

    can I claim the taxes I spent on groceries

Leave a Comment

Name :

Commenting guidelines

We welcome your interest and participation on this forum, but be aware that comments will be published at Equifax's sole discretion. Please don't use this blog to submit questions or concerns about your Equifax credit report or raise customer service issues. Instead, you should contact Equifax directly for all such matters and any attempts to do so in this forum will be promptly re-directed.

Some other factors to consider when commenting:
  1. Registration and privacy. While no registration is required to visit our forum, participants wishing to post a message must register by creating an account. All personal information provided by forum members incident to registration is governed by our Terms of Use and Privacy Policy.
  2. All comments are anonymous. We'll delete your name, e-mail address, and any other identifying information, including details about your investments.
  3. We can't post or respond to every comment - As much as we'd like to, we can't post every comment, nor can we guarantee that we will respond to each individual message. All questions or comments about your Equifax credit report or similar customer service issues should be handled by contacting Equifax directly.
  4. Don't offer specific legal, tax or financial advice. All of the materials on this Site are for information, education, and noncommercial purposes only and this forum is not intended as a means of expressing views or ideas regarding any specific legal, tax, or investment advice. While offering general rules of thumb is both permitted and encouraged, recommending specific ideas or strategies regarding investments, taxes, and related matters is prohibited.
  5. Credit Repair. This blog is not intended as a venue for the discussion or exchange of ideas regarding credit repair or other strategies intended to assist visitors and community members improve or otherwise modify their credit histories, ratings or scores.
  6. Stay on topic. Your comment should be concise and pertain to the specific post in question.
  7. Be respectful of the community. The use of profanity, offensive language, spam, and personal attacks will not be tolerated and egregious or repeat offenders will be banned from future participation. We encourage disagreement and healthy debate, but please refrain from personal attacks on our WordPresss and contributors.
  8. Finally: Participation in this forum may be terminated by Equifax immediately and without notice for failure to comply with any guidelines or Terms of Use. As such, you should familiarize yourself with all pertinent requirements prior to submitting any response through the blog or otherwise. All opinions expressed in this forum are solely those of the individual submitting the comment, and don't necessarily represent the views of Equifax or its management.

Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.

Tax Archive