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posted May 31, 2019 5:42:49 PM

I took a business loan, in which there are fees. Can I deduct the fees as a business expense? This is not interest. Thanks!

I know that loan payments are not deductible.  I know interest is.  I am unsure about the fees. 


Thanks in advance. 

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1 Best answer
Expert Alumni
May 31, 2019 5:42:49 PM

You can deduct financial fees/bank fees as a business expense.

1 Replies
Expert Alumni
May 31, 2019 5:42:49 PM

You can deduct financial fees/bank fees as a business expense.