Advertising Costs = Business Expenses?

BryanC · 06-18-2011, 08:31 AM

My grandmother spent her career owning her own tax office until she retired several years ago. She seems to think I can write off my Facebook advertising costs for CPA offers as business expenses on my taxes. I think she's nuts. Since she did do taxes for a living, I thought it would be worth posting here to have others assure me I'm right.

PandoraMarketing · 06-18-2011, 10:46 AM

Your Grandmother is 100% correct!

Of course you can, It's advertising which is a business expense!!!!
Write the LOT OFF!

Listen to your nan mucka!

GL

Shaz07 · 06-18-2011, 11:18 AM

I would say she is correct as well. I mean you can technically write off the laptop you use for facebook, the internet you use, the electricity, etc.

Just need to document well for that though.

CPATrendPhil · 06-18-2011, 11:25 AM

She is 100% correct.

If your advertising costs aren't expenses for you, what are expenses? lol

TEC · 06-18-2011, 11:28 AM

Like everyone else said yes you can. There is a list of things you can right off. If you use Turbo Tax they will walk you thorough what you can write off and what you can't

PandoraMarketing · 06-18-2011, 11:39 AM

You can pretty much write off everything you payout aslong as it is for the business, i.e - Advertising, Hosting, Domains, Software, Hardware, Office Equipment, Professional Services, % Of Electric Used (If at home divide by number of rooms), Business trips i.e Conferences/Affiliate Meetups........

the list goes on

Just make sure you get a receipt for everything and try and use the business account for your expenditure to keep track easier.

Hope this helps!

Matthew NY · 06-18-2011, 11:48 AM

It is most definitely a business expense. I know for a fact that people try to even "stretch" the business expenditure concept to get money back on things they are just buying for themselves. For example, my friend bought himself a brand new computer for gaming, but he wrote it off saying that he needed it for his business.

Write off anything that is even remotely linked to your business. If you can save on something, why not?

jeffrey73 · 06-18-2011, 12:45 PM

Why would you NOT write off your ad-spend? YOU take the hit for money you paid to Facebook? You didn't make that money, you spent it.

Say you spent $50,000 on materials for a job and you made $20,000 in labor. Does that mean that the IRS should tax you on $70,000? Sure, they would love to, but it is not the way it works. The $50,000 is written off to a business expense, because it was necessary to complete the job. The material charges is profit between the supply house and the manufacturer. Therefore, they are responsible for tax on their own profits, not you.

bookswealth · 06-18-2011, 01:04 PM

Of course you can.

Any single $ you spend in order to gain a $ of revenue is classified as a business expense and is therefore eligible for a tax write off.

Edwards WOrld · 06-18-2011, 01:16 PM

Just do what your Grandma Said !

-EA

PandoraMarketing · 06-18-2011, 06:07 PM

and don't forget the women you pay for too.... don't lie we all know

PandoraMarketing · 06-18-2011, 06:49 PM

Hahaha, we have to remember to add a little fun into the world of marketing otherwise we'd all be sad old rats

Moccinter · 06-18-2011, 07:41 PM

Even ebooks, courses, and WSOs that you buy can be written off as business expenses.

A home office can be written off a business expense as long as that space is:
1) The principal location of business for that business entity, and;
2) used exclusively for the purpose of that business.
So, if you sometimes spread papers spread across your dining room table, that doesn't count as a home office...at least not for tax purposes. But if you take your spare bedroom and put in a desk, filing cabinet, phone line, etc then you're probably ok. Your home expenses (rent, utilities, etc) can be deducted in the same proportion as the percentage of square footage dedicated to business operations.

Don't give up a single penny that you don't have to!

06-18-2011, 08:31 AM	#1
BryanC HyperActive Warrior War Room Member Join Date: Nov 2009 Posts: 160 Thanks: 45 Thanked 28 Times in 22 Posts	Advertising Costs = Business Expenses? My grandmother spent her career owning her own tax office until she retired several years ago. She seems to think I can write off my Facebook advertising costs for CPA offers as business expenses on my taxes. I think she's nuts. Since she did do taxes for a living, I thought it would be worth posting here to have others assure me I'm right.

06-18-2011, 10:46 AM	#2
PandoraMarketing Facebook Super Affiliate War Room Member Join Date: Jun 2011 Posts: 116 Thanks: 16 Thanked 24 Times in 19 Posts	Re: Advertising Costs = Business Expenses? Your Grandmother is 100% correct! Of course you can, It's advertising which is a business expense!!!! Write the LOT OFF! Listen to your nan mucka! GL
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06-18-2011, 11:18 AM	#3
Shaz07 Cool Guy Join Date: Apr 2009 Location: Dallas, TX Posts: 99 Thanks: 0 Thanked 5 Times in 5 Posts Social Networking	Re: Advertising Costs = Business Expenses? I would say she is correct as well. I mean you can technically write off the laptop you use for facebook, the internet you use, the electricity, etc. Just need to document well for that though.
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06-18-2011, 11:25 AM	#4
CPATrendPhil Network Owner - CPATrend Join Date: Aug 2010 Location: New York, NY Posts: 254 Thanks: 43 Thanked 52 Times in 36 Posts Contact Info	Re: Advertising Costs = Business Expenses? She is 100% correct. If your advertising costs aren't expenses for you, what are expenses? lol
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06-18-2011, 11:28 AM	#5
TEC HyperActive Warrior War Room Member Join Date: Jun 2011 Location: Charlotte, NC Posts: 184 Thanks: 13 Thanked 29 Times in 16 Posts	Re: Advertising Costs = Business Expenses? Like everyone else said yes you can. There is a list of things you can right off. If you use Turbo Tax they will walk you thorough what you can write off and what you can't
	Thinking About Filing Bankruptcy? Think Again Before You Do!

06-18-2011, 11:39 AM	#6
PandoraMarketing Facebook Super Affiliate War Room Member Join Date: Jun 2011 Posts: 116 Thanks: 16 Thanked 24 Times in 19 Posts	Re: Advertising Costs = Business Expenses? You can pretty much write off everything you payout aslong as it is for the business, i.e - Advertising, Hosting, Domains, Software, Hardware, Office Equipment, Professional Services, % Of Electric Used (If at home divide by number of rooms), Business trips i.e Conferences/Affiliate Meetups........ the list goes on Just make sure you get a receipt for everything and try and use the business account for your expenditure to keep track easier. Hope this helps!
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06-18-2011, 11:48 AM	#7
Matthew NY Digital Entrepreneur War Room Member Join Date: Jan 2010 Location: New York Posts: 425 Thanks: 41 Thanked 128 Times in 77 Posts Social Networking Contact Info	Re: Advertising Costs = Business Expenses? It is most definitely a business expense. I know for a fact that people try to even "stretch" the business expenditure concept to get money back on things they are just buying for themselves. For example, my friend bought himself a brand new computer for gaming, but he wrote it off saying that he needed it for his business. Write off anything that is even remotely linked to your business. If you can save on something, why not?
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06-18-2011, 12:45 PM	#8
jeffrey73 AdCopyAssault.com War Room Member Join Date: Apr 2010 Location: USA Posts: 2,073 Thanks: 1,249 Thanked 450 Times in 374 Posts	Re: Advertising Costs = Business Expenses? Why would you NOT write off your ad-spend? YOU take the hit for money you paid to Facebook? You didn't make that money, you spent it. Say you spent $50,000 on materials for a job and you made $20,000 in labor. Does that mean that the IRS should tax you on $70,000? Sure, they would love to, but it is not the way it works. The $50,000 is written off to a business expense, because it was necessary to complete the job. The material charges is profit between the supply house and the manufacturer. Therefore, they are responsible for tax on their own profits, not you.
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06-18-2011, 01:04 PM	#9
bookswealth Warrior Member Join Date: Jun 2011 Location: San Fran Posts: 6 Thanks: 0 Thanked 0 Times in 0 Posts	Re: Advertising Costs = Business Expenses? Of course you can. Any single $ you spend in order to gain a $ of revenue is classified as a business expense and is therefore eligible for a tax write off.

06-18-2011, 01:16 PM	#10
Edwards WOrld HyperActive Warrior War Room Member Join Date: Mar 2011 Location: Orange County, CA Posts: 185 Thanks: 0 Thanked 11 Times in 11 Posts	Re: Advertising Costs = Business Expenses? Just do what your Grandma Said ! -EA

06-18-2011, 06:07 PM	#11
PandoraMarketing Facebook Super Affiliate War Room Member Join Date: Jun 2011 Posts: 116 Thanks: 16 Thanked 24 Times in 19 Posts	Re: Advertising Costs = Business Expenses? and don't forget the women you pay for too.... don't lie we all know
	[FREE REPORT] How I Made $16,470 In 7 Days With Facebook PPC - Free Detailed Report Inside! [EXCLUSIVE] HOW I GET PENNY CLICKS ON FACEBOOK THAT CONVERT LIKE CRAZY! PRIVATE FACEBOOK PPC FORUM - 200 SPOTS LIMIT

06-18-2011, 06:49 PM	#12
PandoraMarketing Facebook Super Affiliate War Room Member Join Date: Jun 2011 Posts: 116 Thanks: 16 Thanked 24 Times in 19 Posts	Re: Advertising Costs = Business Expenses? Hahaha, we have to remember to add a little fun into the world of marketing otherwise we'd all be sad old rats
	[FREE REPORT] How I Made $16,470 In 7 Days With Facebook PPC - Free Detailed Report Inside! [EXCLUSIVE] HOW I GET PENNY CLICKS ON FACEBOOK THAT CONVERT LIKE CRAZY! PRIVATE FACEBOOK PPC FORUM - 200 SPOTS LIMIT

06-18-2011, 07:41 PM	#13
Moccinter Active Warrior War Room Member Join Date: Nov 2010 Posts: 52 Thanks: 13 Thanked 20 Times in 15 Posts	Re: Advertising Costs = Business Expenses? Even ebooks, courses, and WSOs that you buy can be written off as business expenses. A home office can be written off a business expense as long as that space is: 1) The principal location of business for that business entity, and; 2) used exclusively for the purpose of that business. So, if you sometimes spread papers spread across your dining room table, that doesn't count as a home office...at least not for tax purposes. But if you take your spare bedroom and put in a desk, filing cabinet, phone line, etc then you're probably ok. Your home expenses (rent, utilities, etc) can be deducted in the same proportion as the percentage of square footage dedicated to business operations. Don't give up a single penny that you don't have to!