Small Business Resource Guide 2002
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Index > Starting Your Business/Keeping Tax Records > What are Business Expenses

Starting Your Business/recordkeeping

What are Business Expenses

Commissions

If you must pay a bonus, percentage, or other type of commission to direct sellers working under you, you can deduct the amount you pay. Report the full amount of any commissions you receive as business income, and deduct the commissions you pay out as ordinary and necessary business expenses.

 

Important References:

Publication 911                             Direct Sellers
Form 1040 Schedule C               Profit or Loss from Business