Is writing off an expense or capital expense deducting from the profit to lower taxes? When a person writes off gas mileage, office space, office supplies, business trips do they at receive a portion or all of the money back when filing taxes or does it deduct from profits and lowers the amount of taxes you have to pay.
When you have a registered business do you have to pay sales tax on materials Ex. Furniture company buying lumber from the processing plant. Also does this apply to equipment like table saws, ladders, and down to small things like nails.
Same as the question above but in regards to shipping costs, accounting fees, ect can these be deducted:confused:
What are some ways a company can save money when it comes down to taxes? Its a broad question but if there are things I can research about or look into that would help also.
When you have a registered business do you have to pay sales tax on materials Ex. Furniture company buying lumber from the processing plant. Also does this apply to equipment like table saws, ladders, and down to small things like nails.
Same as the question above but in regards to shipping costs, accounting fees, ect can these be deducted:confused:
What are some ways a company can save money when it comes down to taxes? Its a broad question but if there are things I can research about or look into that would help also.
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