Can office supplies and office expense go together on line 18, Sch C? Where does a bus. magazine subscription go on Sch C? Are bus. Bank overdraft fees deductible?
I heard mtc bank fees are deductible bec it’s a required cost of banking.,but overdraft fees are not deductible bec. It was error on owners part?
posted
June 1, 201911:07 AM
last updated
June 01, 201911:07 AM
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Can office supplies and office expense go together on line 18, Sch C? Where does a bus. magazine subscription go on Sch C? Are bus. Bank overdraft fees deductible?
1) Yes, you can combine office expenditures.
2) Subscriptions can be included under other expenses.
3) Pub 334 says that bank fees are deductible. They do not specify what type. It is a cost of doing business.
Can office supplies and office expense go together on line 18, Sch C? Where does a bus. magazine subscription go on Sch C? Are bus. Bank overdraft fees deductible?
1) Yes, you can combine office expenditures.
2) Subscriptions can be included under other expenses.
3) Pub 334 says that bank fees are deductible. They do not specify what type. It is a cost of doing business.