All Things Tax

All Things Tax

Like the title says, from the filing process and tax questions to tax policy and reform, you can search and share All Things Tax here. This is the place to find answers to all your general questions that don't fall under the other categories. And just a reminder: questions about software or online filing should be posted in DIY Products.

Reply
Trusted Pioneer
Posts: 6
Registered: ‎09-21-2017

Sales Tax Florida

If I am operating a resale business that purchases from Goodwill and other resale stores and I am paying sales tax on my inventory because it is not wholesale how will I deal with this?

Tax Pro
Posts: 5,780
Registered: ‎02-23-2016

Re: Sales Tax Florida

Hi BrewerGuy2012,

 

 

If you have to pay sales tax because you are not buying from a wholesale distributor then keep track of what you pay.  As a retailer it's an expense of your business and it's deductible on Schedule C like any other expense.

 

 

Best of luck to you with your business!

-  Louis