I registered as an IBO to Amway business spent up to 500$ for training purposes .I have not made any income so far, Can I show the expenses as tax deductible?

Forum|Forum|6 years ago
June 7, 2019
2 replies
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I spent 180 dollars as start up cost along with.400 dollars for business trips,training expenses

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december271989Author

Employee

I have not made any profit from it so far

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dbhausman

Employee

Business expenses are tax deductible, however the expense must be for "business," and you are not being reimbursed for travel by your employer. For example, if you spent $1,000 to go to a conference that lasts 2-days. ALL of your expenses are related to the conference, i.e, food, hotel, air, etc. went towards the conference, all is deductible. If however, you spent an extra night, then only 2/3 of the expenses are deductible. It is also a red flag for a possible audit.

Hope this provides some help.