When I record my expenses for my business do I also write off the sales tax or do not write off the sales tax? Do I have to record the sales tax anywhere? Thanks. 8-)
I guess I explained it wrong. I actually meant the tax I pay when I buy something that is an expense for my business. Like if I need carpet for an apartment, do I write off the total amount I paid or do I minus the sales tax from what I paid.
If you collect sales tax, and report the tax as part of your income, then you can write it off as an expense. 8-)
I guess I explained it wrong. I actually meant the tax I pay when I buy something that is an expense for my business. Like if I need carpet for an apartment, do I write off the total amount I paid or do I minus the sales tax from what I paid.
The total amount.