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:
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:
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 with BusinessTaxRecovery.com -- providing information on taxes.
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