When entering Business Income for a home business, should I include total amount that includes state sales tax in the total?
No. Your gross sales total does not include the state sales taxes collected for remittance.
So when reporting your business income and expenses, reduce the gross sales total by the any amount of included state sales tax and do not include these remitted state sales taxes as a business expense.
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When entering Business Income for a home business, should I include total amount that includes state sales tax in the total?
No. Your gross sales total does not include the state sales taxes collected for remittance.
So when reporting your business income and expenses, reduce the gross sales total by the any amount of included state sales tax and do not include these remitted state sales taxes as a business expense.
**Say "Thanks" by clicking the thumb icon in a post **Mark the post that answers your question by clicking on "Mark as Best Answer"
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