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.
Olympia Fields cheap limo service .. Lockport Chicago limo O’HareIf you are environmentally conscious and purchase a 2005 Ford... Read More
Following is a reproduction of the IRS's rules and requirements... Read More
"Settle for Pennies on the Dollar! IRS debts settled for... Read More
Often people fall on hard times and stop paying on... Read More
Small Businesses Filing Amended Federal Tax Returns to... Read More
So, you were pleasantly surprised to learn that you are... Read More
You've been feeling uneasy (perhaps even guilty) because you've failed... Read More
Tilting the Tax Laws in Your Favor.In order to accelerate... Read More
Newlyweds and the recently divorced should make sure that names... Read More
In trying to comply with tax laws for your e-business,... Read More
The knock on the door from a Tax Inspector is... Read More
The federal tax code is complex. This complexity generally arises... Read More
One can never underestimate the enthusiasm that politicians have for... Read More
Strategic planning throughout the year results in a minimal tax... Read More
Managing a business small, medium or big requires you to... Read More
While accountants are reaching for aspirin, millions of Americans are... Read More
Whether helping the kids with a down payment on their... Read More
No one likes paying tax. Everyone understands that tax is... Read More
If your business has employees, you must pay employment taxes.... Read More
Does this scene sound familiar? It's April 7. You haven't... Read More
The means and types of businesses have transformed with advent... Read More
At the present time a company incorporated in the Isle... Read More
Let's assume that you would like to begin saving for... Read More
Millions of people file tax return extensions every year. The... Read More
"Deducting Meals and Entertainment"O.K. You've been working really hard on... Read More
prom limo Belle Rive ..Deduction of Refinance PointsAny points that you pay in the... Read More
In trying to comply with tax laws for your e-business,... Read More
If your like many, you don't always understand what people... Read More
At the present time a company incorporated in the Isle... Read More
Employers often ask employees to designate the amount of tax... Read More
QUESTION: I have been contacted by my local city... Read More
Newlyweds and the recently divorced should make sure that names... Read More
Many taxpayers are confused about how long they should keep... Read More
It's that time again, the April 15 tax deadline is... Read More
How about a Tax Tip?As we all know Taxes are... Read More
While there are many equally valid reasons to incorporate, saving... Read More
The United States is a nation of entrepreneurs. There are... Read More
Anyone who is closely related to an accountant knows that... Read More
OverviewIn the Pre-Budget Report of December 2003 the Chancellor Gordon... Read More
Managing a business small, medium or big requires you to... Read More
We all love to criticize the IRS, don't we? And... Read More
Most people trying to make a crust online (or offline... Read More
Emerging Legal issues of Tax compliance of e-business Self-assessment system... Read More
If you have recently started an Internet or home business,... Read More
In a past article I relayed the plight of the... Read More
All states also have their own tax system. Typically there... Read More
Donating your used car to charity is a win-win situation;... Read More
The powers of Congress, and the limitations set upon those... Read More
Media reporting of a new EU savings tax directive has... Read More
Many small businesses complain when confronted with the expense of... Read More
Tax |