C Corps can deduct personal property taxes, which can help reduce your tax bill. Personal property taxes are those you pay on items like office furniture, computers, or machinery used in your business.
So if you own a small business and have a few computers, printers and other office equipment, you might pay a personal property tax on these items. If you’re paying $1,500 in taxes for these items, you can deduct that $1,500 from your taxable income. This means you’ll lower the amount of tax you owe. Again, good records are key to taking this deduction.
FlyFin’s expert CPAs offer unlimited tax support on the app for business owners looking to maximize savings. AI finds all your deductions simply by scanning your expenses, making sure every business cost is saving you in taxes.