Can I use the sales taxes on receipts for my business on my Schedule A.?

4 ⤊

Can I use the sales taxes on receipts for my business on my Schedule A.?

2007-01-10 04:54:57 · 2 answers · asked by greatxxthree 1 in Business & Finance ➔ Taxes ➔ United States

2 answers

Business expenses (including sales taxes) should be entered on your Schedule C. No double dipping.

You can still account for your personal sales taxes on Schedule A using either actual expenses or IRS table.

Best wishes.

2007-01-10 05:06:10 · answer #1 · answered by JQT 6 · 3⤊ 0⤋

Keep your business expenses on schedule C.

Why?
Because that's where you get the most benefit from them. Your schedule C is calculated and included in your AGI. Depending on your income, your schedule A amounts can be limited.

2007-01-10 05:17:12 · answer #2 · answered by Molly 6 · 1⤊ 0⤋