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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16547
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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I have paid New York 2012 unicorporated business tax (UBT)

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I have paid New York 2012 unicorporated business tax (UBT) (NYC-202 form). Can I deduct amount paid as an expense in Line 23 (Taxes) on Federal tax return - Schedule C ?

MyVirtualCPA :

Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.

MyVirtualCPA :

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MyVirtualCPA :

Yes, you can deduct UBT on your schedule C

MyVirtualCPA :

This is a business expense and is therefore deductible on your schedule C

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Customer: replied 3 years ago.

Thanks for your reply.This is my last question related to business tax deductions.


 


Is it also MTCTM (Metropolitan Commuter Transportation Mobility Tax) paid in 2012, deductible as a business expense on Schedule C - Line 23 (Taxes)?

Thank you for your follow up. Yes, this tax is also deductible as a business expense on your business tax return.

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