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Question
Can services i purchase for my business on Fiver be a tax write-off?
Answer

Absotootly! Freelancers you pay for business services would be categorized as “contract labor” and can be fully written off on your tax return.

Bear in mind that any contractor you pay more than $600 to needs to be issued a 1099-NEC at the end of the year.

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Sarah York, EA

Sarah is an Enrolled Agent with the IRS and has 6 years of tax and accounting experience. She's an avid hiker, animal lover, and self-proclaimed chocolate connoisseur.

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