IRS Sales Tax Deduction
Sales taxes around the country range from nothing to more than 10 percent when county and city tax rates are factored in. If you have to buy property for your business, paying the sales tax is part of your business expenses. Unlike the personal itemized deduction for sales tax, businesses don't treat it separately from the purchase when figuring tax write-offs.
Deductible Expense
Property Basis
Depreciation
Partly Business
Selling an Asset
References
Resources
Writer Bio
A graduate of Oberlin College, Fraser Sherman began writing in 1981. Since then he's researched and written newspaper and magazine stories on city government, court cases, business, real estate and finance, the uses of new technologies and film history. Sherman has worked for more than a decade as a newspaper reporter, and his magazine articles have been published in "Newsweek," "Air & Space," "Backpacker" and "Boys' Life." Sherman is also the author of three film reference books, with a fourth currently under way.