Tax Write Offs: Paypal Fees

It seems like every client these days wants to pay me via Paypal, which, unfortunately, takes a nasty little bite out every payment. While a dollar here and 75 cents there doesn’t seem like much, it adds up pretty quickly. The thought of just plain not getting my full rate just peeves me. But there is a bit of a solution. It doesn’t put the cash back in my wallet, but it does mean that, down the road, I’ll have a bit more.

Because these Paypal fees are a necessary cost of doing business, I can write them off on my taxes. All I have to do is add up the total I spent on fees and put it on my itemized deduction.

It’s like finding a handful of spare change in the couch cushions — you thought that you’d lost the money, but after just a minute of digging, you get it back.

Please consider submitting this page to bookmarking sites by clicking the ‘Bookmark’ button below.