Savvy business folk take advantage of tax deductions to lessen their tax burden, and there are certainly a slew of tax deductions out there for the taking. But not all tax deductions apply to every business scenario, and some deductions may not be what they seem. The sales tax deduction is a case in point.To help you determine whether and to what extent you can benefit from the state and local general sales tax deduction, this post will answer the following questions:What is a sales tax deduction?How does the sales tax deduction work?What is the standard deduction?Can businesses claim the sales tax deduction?Are there other types of deductions?What’s the difference between a deduction and an exemption?What is a sales tax exclusion?Should I deduct sales tax?Which deductions should I take?
Source: publicnow.com
Sponsors:
