Any statements or advice on this website should not be considered personal tax advice Everyone’s situation is different, and advice that works for 99% people may not be allowed for the 1% due to some arcane regulation. In addition, every state has its own rules, and what might save you $500 on your federal taxes might cost you $1,000 in your California taxes. You should not rely upon any statements or advice on this website without consulting your CPA, Tax Advisor, or Attorney.