what category does "international transaction fee" etc fall in when doing taxes?

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • bausch
    Confirmed User
    • Jul 2006
    • 3017
    #1

    what category does "international transaction fee" etc fall in when doing taxes?

    If its a cost associated with buying traffic

    does it go it under "professional legal fees" or can I just include that under "advertising"

    Please answer fast, im in a time crunch!
    Tags: None
    • Sly
      Let's do some business!
      • Sep 2004
      • 31376
      #2
      I included it with the item it corresponded with... in your case, advertising. I'm really not sure if that's the correct placement or not.
      Vacares - Web Hosting, Domains, O365, Security & More - Paxum and BTC Accepted

      Windows VPS now available
      Great for TSS, Nifty Stats, remote work, virtual assistants, etc.
      Click here for more details.

        Comment

        • bausch
          Confirmed User
          • Jul 2006
          • 3017
          #3
          ok, I'll do the same then

            Comment

            • Sly
              Let's do some business!
              • Sep 2004
              • 31376
              #4
              Now that I think about it... that could be wrong considering that vendor will not be claiming that money as income because they never see it. Who gets that money anyway? One of the banks. I suppose it would go under the "fees" category. Now I have no idea.
              Vacares - Web Hosting, Domains, O365, Security & More - Paxum and BTC Accepted

              Windows VPS now available
              Great for TSS, Nifty Stats, remote work, virtual assistants, etc.
              Click here for more details.

                Comment

                • bausch
                  Confirmed User
                  • Jul 2006
                  • 3017
                  #5
                  Originally posted by Sly
                  Now that I think about it... that could be wrong considering that vendor will not be claiming that money as income because they never see it. Who gets that money anyway? One of the banks. I suppose it would go under the "fees" category. Now I have no idea.
                  This is true. Although the some of the vendors in my case are European based so they wouldn't be declaring anything to the IRS anyways, but you are right, the income is going to the banks so it's probably more accurate to label it under "legal fees" and although it would be more practical and easier to include it under "advertising" although that would be less accurate (even though it is indeed a fee associated with the advertising cost). I will go ahead and change it under fees.
                  Last edited by bausch; 04-01-2009, 06:21 PM.

                    Comment

                    • collegeboobies
                      So Fucking Banned
                      • Jul 2004
                      • 3644
                      #6
                      maybe banks fees if its from a bank

                        Comment

                        • bausch
                          Confirmed User
                          • Jul 2006
                          • 3017
                          #7
                          Nah, actually it goes into the category "other expenses"

                          http://www.smallbizresource.com/blog...toclassif.html

                          The following are very common self-employed expenses that should be placed under the "other expenses" category:

                          * Bank/ATM fees
                          * Survey and research costs
                          * Professional "How To" Books (Web design, programming, etc.)


                          I am surprised they suggest putting hosting under Advertising or Utilities. I have been putting it under "equipment rental"

                            Comment

                            • After Shock Media
                              It's coming look busy
                              • Mar 2001
                              • 35299
                              #8
                              Originally posted by bausch
                              I am surprised they suggest putting hosting under Advertising or Utilities. I have been putting it under "equipment rental"
                              If you co-locate a server you own, or paid for certain equipment that is on your server then that would be equipment and could (not all can) be depreciated over a period of time.
                              Where your bandwidth is a utility and you can and should add in your rented server into this area too if they own it 100%. I guess you could get super anal and put your rented server cost into the equipment rental area and then bandwidth portion into the utility and so on.

                              [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

                                Comment

                                • Almost Evil
                                  Confirmed User
                                  • Jan 2006
                                  • 523
                                  #9
                                  I filed mine under "stupid fees bank of america fucked me with"

                                  AlmostEvilCash                                   | ICQ: 299372871
                                  See Who I Am At AdultWhosWho.com!

                                    Comment

                                    • pinupglam
                                      Confirmed User
                                      • Sep 2006
                                      • 70
                                      #10
                                      You could probably call it whatever you want to. The bottom line is that it's an expense so it's deductible, regardless of the label attached to it.

                                        Comment

                                        • nico-t
                                          emperor of my world
                                          • Aug 2004
                                          • 29903
                                          #11
                                          Originally posted by pinupglam
                                          You could probably call it whatever you want to. The bottom line is that it's an expense so it's deductible, regardless of the label attached to it.
                                          quoted for truth

                                            Comment

                                            • woj
                                              <&(©¿©)&>
                                              • Jul 2002
                                              • 47882
                                              #12
                                              Originally posted by pinupglam
                                              You could probably call it whatever you want to. The bottom line is that it's an expense so it's deductible, regardless of the label attached to it.
                                              No kidding, it makes zero difference... unless you are talking about purchasing some special goods, like something that depreciates over time, I wouldn't sweat about what category to put it in...
                                              Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000
                                              Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager
                                              Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

                                                Comment

                                                Previous template Next
                                                Working...