Tax Guide

Get answers to all your questions about taxes, personal finance, insurance and more.

Can I deduct an excise tax?

An excise tax is levied on certain specific goods in addition to sales tax. Gas, airline tickets and some health-related goods have an excise tax, and you can deduct an excise tax if the goods or commodities were purchased for business.

Excise taxes are usually included in the price of the good or commodity, so to deduct the tax, you must calculate how much of the price is excise tax and have the records to prove it.

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