Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
kazooman
New Member

I am a new author, and I've spent quite a bit on advertising this year. Do I need to create an LLC to deduct those advertising expenses?

 
1 Best answer

Accepted Solutions
TomD8
Level 15

I am a new author, and I've spent quite a bit on advertising this year. Do I need to create an LLC to deduct those advertising expenses?

An LLC is not necessary in order to deduct those expenses.  Deduct them as a business expense on Schedule C.  Profits or losses from a single-member LLC are not taxed directly but instead are taxed through the single member’s personal federal tax return.  

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

View solution in original post

1 Reply
TomD8
Level 15

I am a new author, and I've spent quite a bit on advertising this year. Do I need to create an LLC to deduct those advertising expenses?

An LLC is not necessary in order to deduct those expenses.  Deduct them as a business expense on Schedule C.  Profits or losses from a single-member LLC are not taxed directly but instead are taxed through the single member’s personal federal tax return.  

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
Dynamic AdsDynamic Ads
Privacy Settings
v