Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
detwingnut74
New Member

Yoga class and training... where can I deduct that in my business expenses?

 
1 Best answer

Accepted Solutions
Marketstar
Level 7

Yoga class and training... where can I deduct that in my business expenses?

You can only deduct these expense if they are "ordinary and necessary" expenses for your business.

Per the IRS: To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary.

See https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Deducting-Business-Expenses

Assuming you are self employed, I would deduct the above in Other Miscellaneous Expenses..

View solution in original post

1 Reply
Marketstar
Level 7

Yoga class and training... where can I deduct that in my business expenses?

You can only deduct these expense if they are "ordinary and necessary" expenses for your business.

Per the IRS: To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary.

See https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Deducting-Business-Expenses

Assuming you are self employed, I would deduct the above in Other Miscellaneous Expenses..

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~