Can it be deducted from revenue as expenses along with other operaing costs and depreciation
2007-12-07 09:37:18 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Yes, it is an ordinary expense and is fully deductible. Just be sure to 1099 the recipient if they are an independent contractor.
2007-12-07 09:41:27 · answer #1 · answered by jwishz 7 · 0⤊ 0⤋
The commissions you paid to your sales staff are treated as the same as other operating expenses. You can deduct commissions paid on your Schedule C with your 1040 if you file as an individual.
2007-12-07 11:45:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes it is an expense - however you would file a 1099 to the recipient of anything over $600.
2007-12-07 09:41:25 · answer #3 · answered by justwondering 6 · 0⤊ 0⤋
Yes, commissions are treated the same as salary or other types of wages for tax purposes, even though you might keep them in a separate account internally.
2007-12-07 19:03:15 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
Yes it is an operating expense
2007-12-07 09:46:31 · answer #5 · answered by Confused 1 · 0⤊ 0⤋