On Schedule A of my 2011 tax
return, I see there is a place
for state and local taxes. There's
also a place for real estate
taxes.
This begs the question: Where do
I deduct business taxes? I'm
required to pay for a Home Occupancy
Permit in Auburn, Maine, USA. Where
to I take this off my revenues?
It seems that the right place to do
this is as a business expense. Here's
what the IRS says:
Deducting Business Expenses
Here's the key quote from the above
IRS web page:
Taxes - You can deduct various federal,
state, local, and foreign taxes directly
attributable to your trade or business
as business expenses.
OK. I got my answer. There's always
an answer if you look in the right
places.
Ed Abbott
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