Remember, you cannot deduct the parking fees you pay to park your car at your place of work. This is considered a nondeductible commuting expense. With this, your trips to the office go from nondeductible commutes to business mileage—the parking costs may also qualify for tax relief.

What type of taxes are charged when you buy something?

The statewide sales and use tax rate in California is currently 7.25 percent, but in many areas, voters approved district taxes to fund local or regional projects and services. Local tax rates are added to the statewide tax rate.

Is paying sales tax the same as paying taxes?

Sales tax generally applies on the sale to the end user or ultimate consumer. Sales tax is generally added to the sales price and is charged to the purchaser. The seller must pay the tax whether or not the tax is collected from the purchaser. The tax is generally imposed on the privilege of doing business in the state.

Does selling your stuff count as income?

Sold goods aren’t taxable as income if you are selling a used personal item for less than the original value. If you flip it or sell it for more than the original cost, you have to pay taxes on the surplus as capital gains.

Is car parking an allowable expense?

although parking fines aren’t usually an allowable business expense, these should be allowable in exceptional circumstances.

Do you have to pay taxes on money earned at your garage sale?

Whether or not you have to pay taxes, of any sort, on monies earned through these garage, yard and rummage sales depends upon the purpose and method of your sale. If your paid more for the item than the price in which you re-sell the item (s), then sales are not report-able as either income or for sales tax purposes.

Do you pay sales tax or use tax?

If a customer is responsible for paying use tax, the rate is left up to the state where the buyer uses, stores, or consumes the product in. Generally, use tax rates are the same as sales tax rates. Use tax typically only applies to out-of-state purchases where no sales tax was collected.

What makes your property tax go up or down?

A detached garage that adds $40,000 of value will drive up property taxes more than a new roof that adds $12,000. One way to guesstimate property tax increases is to calculate your renovation’s budget, check the typical ROI for this kind of project, and multiply that against your local property tax rate.

Do you have to pay sales tax on rummage sale?

The laws regarding sales tax vary from state to state and . It’s always a good idea to check with your state’s department of taxation as well as local ordinances regarding sales tax collection on goods sold at garage, yard, or rummage sales.