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Are Factoring Fees Tax Deductible?

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Question: Are Factoring Fees Tax Deductible?
Top Answer (75% of 4 votes): Yes.

Answer: Yes
Explanation: Check with your tax advisor. You can find resources online that explains the proper method of record factoring transactions as well.
Diversified Resources
Answer: No
Explanation: Since factoring fees are not business expenses they are not tax deductible.The fees are the result of the purchase of an invoice.
Small Business Financial Solutions
Answer: Yes
Explanation: It is a business expense.
Commercial Mortgage Services
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Related Questions

Are factoring fees considered interest?Top answer: No

Are factoring transactions true sales?Top answer: Yes

How Much Do Factoring Companies Charge?

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