And what employers want is important â the number of jobs in this field through 2020 is expected to grow 21% faster than average. Your degree program should teach you specific medical codes, how to code accurately and how to use field-specific computer programs and technology, according to Carlson.
12. Taxes incurred in operating your business are generally deductible. How and when they are deducted depends on the type of tax: 1  Sales tax on items you buy for your business's day-to-day operations is deductible as part of the cost of the items; it's not deducted separately.
Is sales tax an expense or a liability? If a company sells $100,000 of product that is subject to a state sales tax of 7%, the company will collect $107,000. It will record sales of merchandise of $100,000 and will record a liability for sales tax of $7,000. In this situation the company is acting as a collection agent for the state by charging the $7,000 in sales tax.