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Question
Can services i purchase for my business on Fiver be a tax write-off?
AI accountant’s 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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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.
No answer given yet!
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