topic Tax Year Prior to 2020: Sales leads purchased for business tax deductable? in Business & farm

Tax Year Prior to 2020: Sales leads purchased for business tax deductable?

trishtangibbs — Mon, 01 May 2023 22:45:36 GMT

where do i enter the cost of sales leads paid in year 2015 to properly receive a tax credit for them?

Those can go in as an Advertising Expense since they are...

KarenL2 — Tue, 04 Jun 2019 22:59:53 GMT

Those can go in as an Advertising Expense since they are used as a marketing tool for new business.

How to get to that area : While inside the software and working on your return, type Schedule C in the Search at the top of the screen (you may see a magnifying glass there). There will be a popup that says Jump to Schedule C. Select that to get to the general area.

Business Income and Expenses
select Edit next to your business (if it is there)
scroll to Business Expenses
then, Other Common Business Expenses
then, Advertising Expense

Re: Sales leads purchased for business tax deductable?

JoeSuarez — Tue, 28 Feb 2023 14:13:23 GMT

In general, the tax deductibility of sales leads purchased for business purposes may depend on a variety of factors, such as the type of business, the purpose of the lead data enrichment, and the laws of the relevant jurisdiction. It is advisable to consult with a tax professional or accountant who can provide guidance on the tax implications of purchasing sales leads for your particular business.