https://blog.fiducial.com/wp-content/uploads/2019/06/for-business_03.jpg 200 448 fiducial https://blog.fiducial.com/wp-content/uploads/2023/05/logo_fiducial-Horozontal.png fiducial2014-11-12 19:24:572019-06-25 19:25:41DEDUCTING SALES TAX ON BUSINESS PURCHASES
DEDUCTING SALES TAX ON BUSINESS PURCHASES
When taxpayers buy new equipment for businesses purposes, the following question arises: “Can they separate the sales tax from the purchase price and deduct that separately as a currently deductible tax expense?”
Unfortunately, you are required to include all the costs of acquiring the equipment into the depreciable basis, including the sales tax.
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