Solved

For Tax Year 2021 - Tax Preparation Fee

Forum|Forum|4 years ago
March 16, 2022
2 replies
0 views

Where do I enter the tax preparation fee for a small business?

TurboTax Home & Biz Windows

Best answer by Cynthiad66

For a small business, perhaps a Schedule C, you deduct as Other Expenses. Once you have setup your self-employment income you can enter expenses. Other expenses are listed there.

Unless you’re self-employed, tax preparation fees are no longer deductible in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017. Self-employed taxpayers can still write off their tax prep fees as a business expense.

@lwms7151

[Edited 3/17/2022 6:52 AM PST]

B

Bsch4477

Employee

Enter on Sch C along with your other expenses.

C

Cynthiad66Answer

For a small business, perhaps a Schedule C, you deduct as Other Expenses. Once you have setup your self-employment income you can enter expenses. Other expenses are listed there.

Unless you’re self-employed, tax preparation fees are no longer deductible in tax years 2018 through 2025 due to the Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017. Self-employed taxpayers can still write off their tax prep fees as a business expense.

@lwms7151

[Edited 3/17/2022 6:52 AM PST]

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"