Self employment expenses Question
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

Self employment expenses Question

Can you count last years tax return filing fee as an expense for Self Employment Sole Proprietor LLC? If yes, even if the amount was paid out of a personal bank account?
1 Reply
New Member

Self employment expenses Question

Yes you may deduct the Tax Preparation Fees as a Business Expense. Nevertheless it is always recommended that you keep a record of the transaction, Invoice, Receipts, etc. Whether you paid it from your personal bank account and allowed the business to expense the transaction does not present any issues with the IRS. As I mentioned before proper documentation is the key.

Dynamic Ads
v
Privacy Settings