Question

multi dealer venue tax deductions

Forum|Forum|6 years ago
February 20, 2020
1 reply
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Hi All,

I rent 2 booths at a multi dealer venue - what kind of deductions can i take for tax purposes. For Example,

can i deduct the 10% commission of my sales as well as the Monthly rent? Can I use the Mileage deduction? Are there any other deductions I should know about?

AmyC

Employee

Yes, you can deduct commission paid under commissions and the rent under rent.

The mileage deduction can be used going between places.

For example: everybody drives to and from work, that is a commuter expense. The trips you make between would count. If you drive to booth 1 that is commuter, then you must get supplies - that is business mileage until you get to the last stop of the day. From the last stop until home is commuter miles again.

Yes, there are so many things to know with a business! Here are all my favorite things, including way to promote your business. Be sure you don't look like a hobby, if you really are a business.

Small Business and Self-Employed Tax Center - complete guide