Understanding Marketing Tax Deductions
Marketing is a necessary expense in running practically any business and the IRS acknowledges as much .
You may run advertisements on or in the Internet, radio, television, magazines, newspapers and other media to sell your products or services .
You should be deducting all of the associated costs on your tax returns.
Ordinary Marketing Expenses
Marketing costs must be ordinary and necessary business expenses in order to be deductible .
Put in layman's terms, you marketing must be reasonably related to the promotion of your business and the expense amount must be a reasonable amount.
Deductible Marketing Expenses
Common deductible marketing expenses include the costs associated with the following items:
A .
Yellow Page Advertisements,
B .
Business Cards,
C .
Advertisements in print media such as newspapers,
D .
Telemarketing,
E .
Business Cards,
F .
Web site costs including creation and maintenance,
G .
Costs for Advertisements on the Internet,
H .
Billboards, and
I .
Graphic design costs.
Goodwill Marketing For Your Business
Marketing that is intended to portray your business positively can be deducted .
Such marketing creates a long-term potential for business and, thus, falls within the ordinary and normal requirements of the tax code .
Examples of such marketing include:
A .
Sponsoring local youth sports teams,
B .
Distributing samples of your business product, and
C .
Costs associated with prizes offered by your business in a contest.
As long as your marketing expenses can be reasonably related to the promotion of your business, you should be deducting said expenses from your gross revenues .
If you failed to claim any such expenses on your tax returns, your probably overpaid your taxes.
Marketing is a necessary expense in running practically any business and the IRS acknowledges as much .
You may run advertisements on or in the Internet, radio, television, magazines, newspapers and other media to sell your products or services .
You should be deducting all of the associated costs on your tax returns.
Ordinary Marketing Expenses
Marketing costs must be ordinary and necessary business expenses in order to be deductible .
Put in layman's terms, you marketing must be reasonably related to the promotion of your business and the expense amount must be a reasonable amount.
Deductible Marketing Expenses
Common deductible marketing expenses include the costs associated with the following items:
A .
Yellow Page Advertisements,
B .
Business Cards,
C .
Advertisements in print media such as newspapers,
D .
Telemarketing,
E .
Business Cards,
F .
Web site costs including creation and maintenance,
G .
Costs for Advertisements on the Internet,
H .
Billboards, and
I .
Graphic design costs.
Goodwill Marketing For Your Business
Marketing that is intended to portray your business positively can be deducted .
Such marketing creates a long-term potential for business and, thus, falls within the ordinary and normal requirements of the tax code .
Examples of such marketing include:
A .
Sponsoring local youth sports teams,
B .
Distributing samples of your business product, and
C .
Costs associated with prizes offered by your business in a contest.
As long as your marketing expenses can be reasonably related to the promotion of your business, you should be deducting said expenses from your gross revenues .
If you failed to claim any such expenses on your tax returns, your probably overpaid your taxes.
Understanding Marketing Tax Deductions
![Understanding Marketing Tax Deductions]()
Reviewed by Henda Yesti
on
July 05, 2018
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