Fees that Square taking for transactions, are they deductible? thank you

[Critter · Accepted solution]

OK ... yes and/or no ...it depends on how you record it.   The square puts the sale amount net of fees into your account so you can just report the income actually received and ignore the fees that were already netted out  OR   report the entire sale and deduct the fees as an expense ... either method is correct as long as you use the same method all year ... so pick the one that suits your bookkeeping style or preference.