- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Yoga class and training... where can I deduct that in my business expenses?
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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..
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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..
Still have questions?
Or browse the Forums