For example, If I buy a package of batteries for one of my cameras, and the store charges sales tax, is the sales tax a part of the overall business expense?
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Yes, you can deduct sales tax, but when reporting the expense of the item -- batteries, in this example -- on your tax return, just include the tax along with the price of the underlying product or service.
Yes, you can deduct sales tax, but when reporting the expense of the item -- batteries, in this example -- on your tax return, just include the tax along with the price of the underlying product or service.
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