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.
Richard Chapo is CEO of http://www.businesstaxrecovery.com - Obtaining tax refunds for small businesses by finding overlooked tax deductions and credits through a free tax return review.
taxi o'hare Wisconsin Dells ..In trying to comply with tax laws for your e-business,... Read More
The Internal Revenue Service is reporting that the difference between... Read More
Adding Your First Additional Stream of IncomeMost new wealth builders... Read More
Your days as an entrepreneur and businessperson are consumed with... Read More
The Internal Revenue Service has certified the 2006 Toyota Highlander... Read More
Have you been thinking about incorporating your small business or... Read More
The United States is a nation of entrepreneurs. There are... Read More
"What we've got here is a failure to communicate." ... Read More
All states also have their own tax system. Typically there... Read More
Import duties continue to be significant elements in the cost... Read More
Six Urban Myths ? Taxation"I am proud to be paying... Read More
One way to maximize your business profits is by reducing... Read More
Own residential rental properties? This article discusses how income from... Read More
Choosing the right tax preparer for your business is a... Read More
All tax authorities to e-commerce transactions should investigate the record... Read More
In the rush to get tax returns prepared and filed... Read More
Background issues of access to recordsTo assess the records at... Read More
Often people fall on hard times and stop paying on... Read More
Managing a business small, medium or big requires you to... Read More
Many taxpayers are confused about how long they should keep... Read More
April 15th looms in front of most people every year... Read More
Small Businesses Filing Amended Federal Tax Returns to... Read More
"Deducting Meals and Entertainment"O.K. You've been working really hard on... Read More
As a small business owner, it's wise to familiarize yourself... Read More
Once a year Canadian taxpayers are required, by law, to... Read More
bmw rental chicago Ackley ..Six Urban Myths ? Taxation"I am proud to be paying... Read More
How Home-Based Businesses Can Avoid Giving Uncle Sam... Read More
Over 50% of marriages end in divorce in the United... Read More
Your days as an entrepreneur and businessperson are consumed with... Read More
One can never underestimate the enthusiasm that politicians have for... Read More
We need real tax reform and we need it now.... Read More
Donating your used car to charity is a win-win situation;... Read More
April 15th looms in front of most people every year... Read More
Millions of people file tax return extensions every year. The... Read More
Reservists called to active duty and enlistees in the armed... Read More
Estate taxes. It's not enough to simply know they exist,... Read More
According to the IRS, taxpayers underpay their taxes by some... Read More
As an employer, you must pay employment taxes if you... Read More
Anyone who is closely related to an accountant knows that... Read More
Beware of advertisements that claim to settle tax debts for... Read More
You're at your office, or home, and the doorbell rings... Read More
Recently, I stumbled across a concept that could change your... Read More
It may not be high on the list of wedding... Read More
Small Businesses Filing Amended Federal Tax Returns to... Read More
Does this scene sound familiar? It's April 7. You haven't... Read More
Each year, the IRS lists various scams taxpayers get caught... Read More
Do you realize that some tax forms ask you to... Read More
If you paid someone to care for a child so... Read More
As everyone in the U.S. knows, we have just passed... Read More
"What we've got here is a failure to communicate." ... Read More
Tax |