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I've been trying to research this but a lot of articles refer to DBAs that ...
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    artizhay's Avatar
    artizhay is offline Senior Member
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    Default DBA Tax Deductions

    I've been trying to research this but a lot of articles refer to DBAs that are owned by corporations and other articles have some conflicting information. I know there are a handful of tax experts here so maybe someone knows.

    I'm just wondering if I am able to write expenses off on my tax return for a sole proprietor DBA. I've read that I can write off all "reasonable" expenses, then I've read that I can only write off "fringe benefits," such as health insurance.
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    beakon is offline Regular Member
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    Default Re: DBA Tax Deductions

    Back when I had all my income coming through just my personal name as being self employed I was still able to write-off every related expense. My accountant said I could even take a % of the new car I had bought. So I took all computer hardware, software, services, cds, dvds, and wrote it all off without a problem.

    There is very little over head in this self employed online industry so write-off as much as you can possibly think of.

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    TrulyReal is offline Newbies
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    Default Re: DBA Tax Deductions

    You can write off any "reasonable" expense. I would pick up a book on taxation from Amazon and have an accountant do your taxes for the first year or two to help you sort things out. Once you talk to an accountant and read up on taxation law a bit it will help clarify a lot of things for you.

    Make sure you separate your business transactions from your personal ones and save all your receipts.

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    bhstudent is offline Junior Member
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    Default Re: DBA Tax Deductions

    I wonder if you write off odesk and paypal transactions?

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