topic Is the entire Late fee for a utility deductible for a home business? in Business & farm

Is the entire Late fee for a utility deductible for a home business?

taxquestiontoday — Thu, 30 May 2019 00:01:39 GMT

Late fees and penalties are not ever deductible.

xmasbaby0 — Thu, 30 May 2019 00:01:41 GMT

Late fees and penalties are not ever deductible.

Re: Late fees and penalties are not ever deductible.

MarkyMarkTax — Wed, 03 May 2023 20:50:15 GMT

This is not entirely true. Late fees and penalties can be deductible for a credit card. However , late fees and penalties on federal or state tax due are never deductible.