Tax Deductions for a Website?
Here’s some great advice from the National Association of Tax Professionals!
Does Your Business have a Website? If so, you may be entitled to certain tax deductions
Whether you are planning to start a new business or looking to advertise your existing business, having a website is a good marketing strategy. It’s also a good tax planning strategy if you’re looking to reduce taxable income. Developing a functional website may be difficult, but taking the tax deduction is easy.
Just keep track of the following expenses:
- Computers and peripherals, including monitor, mouse, keyboard and printer. Note whether it is new or used, so bonus depreciation can be taken if eligible.
- Internet and phone charges.
- Consultant fees (an expert can be helpful for a quick set-up and thoughtful design).
- Domain registration fees.
- Web hosting fees
- (monthly or annual).
- Software used to develop and maintain the site.
And who knows, you just might save enough to Grow Your Business!