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MGC94
Level 7
March 29, 2024
Question

Write off Professional Fees on Schedule C?

  • March 29, 2024
  • 2 replies
  • 11 views

Client paid a financial company $3,114 for "personal" financial services. Client also is a sole proprietor with a DBA who has nothing on his return but a Schedule C. Could this fee paid to the financial company be written off on the schedule C as a business expense for professional fees? 

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2 replies

Just-Lisa-Now-
Intuit Community Champion
March 29, 2024

what kind of personal financial services?  Was it related to his sole proprietor business?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
dascpa
Level 11
March 29, 2024

If general investment advisory like what a wealth manager charges through an investment house, no.  If other, you need more information as to what it was.