Where would i put the 5% fees we are charged from our factoring company?

In TurboTax Self-employed you can enter factoring costs as follows:

• Business >> Business Income and Expenses >> Select >> "Start/Update"
• Next you'll see your business income screen >> Select >> Edit
• Scroll Down >> Business Expenses >> Select >> Other Common Business Expenses
  
• Select >> "Start/Update" >> "Let's write off some business expenses
• Pick a  category that makes sense to you >> Select >> Start

Almost any of these, Interest Payments, Legal & Professional, Other Miscellaneous Expenses, has blank lines that you can type in your own description "Factoring", so you'll know what it is when you look at it later.

What about turbo Tax for S-corp? Where do I put the Factor Fees? 

@tctlogisticsllc

Factoring Fees are reported for an S-Corp in a similar category as Schedule C.

In TurboTax Business, this deduction is entered under Federal Taxes >> Deductions >> All other expenses, using a custom description for the amount.

Note: If you enter a general business expense in the wrong category, it will not affect your taxes. Just be sure you don't enter the same expense twice.