Current User: Guest · Login
Filing CA Use Taxes for Small Business as Expense?
Posted: Apr 6 2007, 11:03 AM
It's tax fun time again!
Anyone out there know if you're supposed to factor in California use tax into your taxable business expenses if you purchased them online and didn't pay tax at the time of purchase? I've using TurboTax Premier to do my taxes for my Web Development business and I came to the realization that the CA Use tax that I'm declaring when I do the state section of the taxes aren't applied backwards to my business expenses.
Are you supposed to adjust your business expenses to reflect taxes that you're going to pay by declaring them as CA use tax later?
Do you declare the use tax as an expense line item the following year?
Or is tough luck no deductions on sales taxes to be paid if you didn't pay sales tax at the time of purchase?
Anyone out there know if you're supposed to factor in California use tax into your taxable business expenses if you purchased them online and didn't pay tax at the time of purchase? I've using TurboTax Premier to do my taxes for my Web Development business and I came to the realization that the CA Use tax that I'm declaring when I do the state section of the taxes aren't applied backwards to my business expenses.
Are you supposed to adjust your business expenses to reflect taxes that you're going to pay by declaring them as CA use tax later?
Do you declare the use tax as an expense line item the following year?
Or is tough luck no deductions on sales taxes to be paid if you didn't pay sales tax at the time of purchase?
