Tax deductible?

[StrictlyUrban]

It's that time of year again where we all worry about our taxes. Which business permits are considered tax deductible? I'm going to hire a professional to do my taxes, but I'm not sure what to expect and I'd like to have an idea of what I need to gather up and consider before I do.

 

[High Voltage]

I don't think permits are tax deductible, but they do typically raise the base value of a home or business if you sell it. Remember, there are also both state and federal taxes so that might come into play as well.

Your tax preparer should know

 

[StrictlyUrban]

I don't think permits are tax deductible . . .

Rats! I spent quite a bit on permits and hoped I might be able to recoup some of the money. Oh, well, I guess it was money well spent. Thanks for clueing me in, High Voltage.