I know that banking fees are a tax deduction - - but are ATM fees also deductible?
2007-03-09 15:54:01 · 5 answers · asked by lasvegastodd 2 in Business & Finance ➔ Taxes ➔ United States
As a business expense, but you'd have to have a large amount to qualify.
2007-03-09 19:12:52 · answer #1 · answered by Anonymous · 0⤊ 2⤋
Banking fees are NOT tax deductible on an individual income tax return. Whoever told you they are deductible is simply wrong.
If you operate a business they are legitimate business expenses, as would be the ATM fees if they were relative to the production of income.
2007-03-09 22:17:20 · answer #2 · answered by Bostonian In MO 7 · 2⤊ 0⤋
It seems to me that they would be. Any legitimate expense you incur in the course of doing your business is a deductible business expense.
2007-03-09 18:30:52 · answer #3 · answered by Neil 2 · 0⤊ 0⤋
Maybe as a business expense, no ,as a personal expense.
2007-03-09 17:38:09 · answer #4 · answered by TedEx 7 · 0⤊ 0⤋
I'm not sure, but I would assume they would be if it was a legitimate business expense.
2007-03-09 15:58:07 · answer #5 · answered by lremmell64 4 · 0⤊ 0⤋