topic Can I write off senior discounts if I offer them to my customers? in Get your taxes done using TurboTax

Can I write off senior discounts if I offer them to my customers?

benjamin-a-rouse — Wed, 05 Jun 2019 22:28:18 GMT

and you cannot use TT Free for business or self-employmen...

SweetieJean — Wed, 05 Jun 2019 22:28:20 GMT

and you cannot use TT Free for business or self-employment income.

No you don't write them off ... you will just have less i...

Critter — Wed, 05 Jun 2019 22:28:21 GMT

No you don't write them off ... you will just have less income to report.

Thanks. I will pay for it then.

benjamin-a-rouse — Wed, 05 Jun 2019 22:28:22 GMT

Thanks. I will pay for it then.

There is one way you can write it off. If you entered th...

VolvoGirl — Wed, 05 Jun 2019 22:28:24 GMT

There is one way you can write it off. If you entered the full amount before the discount as income, then you can deduct the discount under Advertising or Misc Expense.

Yes, depending on your accounting methods, if it is easie...

Critter — Wed, 05 Jun 2019 22:28:25 GMT

Yes, depending on your accounting methods, if it is easier to report the full price then take off the discount as an expense of some kind then that is allowed.

No. You simply have less income to report and pay taxes...

Opus 17 — Wed, 05 Jun 2019 22:28:26 GMT

No. You simply have less income to report and pay taxes on because you are selling at a lower price. It's not an additional deduction or expense. Just less income.