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Liberty April 6th, 2016 9:42pm

Should rebates on purchased products and services be taxed as profit/income?

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chinito Florida
04/06/16 4:04 pm

No. But if you are going to deduct the item you bought as an expense then you should decrease the value of such item by the amount of the rebate.

04/06/16 3:44 pm

You pay the tax on the total price of the item before the rebate. It's already taxed.

Liberty 4,032,064
04/06/16 4:54 pm

You don't pay income tax on things you buy. You pay it on money you take in as profit.

04/06/16 7:04 pm

I didn't say income tax. You're paying sales tax. A rebate is not income. You've already been income taxes on the money you spent for the item. The rebate is your own already income taxes money coming back to you

Liberty 4,032,064
04/07/16 3:44 am

The poll does refer to income tax.