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Reporting Paypal Payments As Business Expenses

Discussion in 'Business & Tax Advice' started by deeguy1, Apr 17, 2012.

  1. deeguy1

    deeguy1 Regular Member

    Mar 4, 2009
    Likes Received:
    I sent a bunch of personal payments via Paypal in 2011 that were actually business expenses, but they were to regular people and not companies. Should I still report these payments as business expenses even though there wouldn't be much proof to my claims?

    Also, does anyone know the tax business code for Affiliate marketing? Should I just use 999999?
  2. ChrisDouthit

    ChrisDouthit Registered Member

    Apr 17, 2012
    Likes Received:
    If they were business expenses you can write them off. If you need an affiliate manager that has built in tax tracking I would recommend PayGear which prepares all 1099s and 1096 forms for their members.