Can I deduct my CPA's fees?

Question:

I paid over $400 to my CPA to do my taxes as a Self-Employed individual last year. I'm filing as a self-employed individual again this year- can I deduct her fees as a business expense?

Answer:
You can deduct the portion of the total charge that relates to the business as a business expense. The rest is a deduction on your schedule A, subject to the 2% of AGI limitation. If your CPA does not give you a break-down of you fee, use a reasonable percentage.

Yes you can, but it has to have been paid to her before Jan. 1, 2007.

Even people who aren't self-employed get this deduction if they are itemizing deductions.

yes

yes but you have to be sure to only charge the amount for those forms to your schedule c this year. The remainder of the tax prep fees are deductible on sch A as a misc deduction subject to 2% of your adjusted gross income.

Can I deduct my CPA's fees?

Hot Topic