Does this Qualify as a Tax Write-off?

[Greybeard]

If you are creating lets say apps for the iPhone, the percentage that Apple keeps per your agreement, could you write that off on your taxes.

Technically it is a required fee to do business as an app developer, right?

 

[7878]

No, because Apple takes that money off the top before you ever get paid. In order to write it off you would have to pay Apple their % out of your gross, but they already do that for you. You could write of the $99 dev account fee though.

 

[Greybeard]

Ok, that makes sense. I'm just trying to come up with ways to save on taxes.

Yes, I already knew you could write off the developer account fee.

 

[PatchesDM]

: / That's a shame. I'd also like to write off my Paypal fee slices. It seems fair though to have these taken off since they are such a liability.

 

[upl8t]

: / That's a shame. I'd also like to write off my Paypal fee slices. It seems fair though to have these taken off since they are such a liability.

Paypal fees are a legitimate business expense. Generally, any cost incurred in the normal course of business is an expense and that includes reductions in revenue from partners' shares, currency fluctuations, wire transfer fees etc... If you're going to make some real money go find yourself a real good accountant that you can trust, someone who really knows what they're doing.

 

[volund]

: / That's a shame. I'd also like to write off my Paypal fee slices. It seems fair though to have these taken off since they are such a liability.

Are you claiming the net payments or the gross? If you are claiming the net you are already subtracting the fees so no need to deduct them, if you are claiming the gross then you can claim the paypal fees......

 

[sciter]

Are you claiming the net payments or the gross? If you are claiming the net you are already subtracting the fees so no need to deduct them, if you are claiming the gross then you can claim the paypal fees......

Isn't that obvious?

 

[volund]

Isn't that obvious?

Well looking at the question I quoted and the OP my guess is not quite as much as you might think.