Can I deduct the fee for a business license for my summer tutoring business?
Yes. Deduct the business license as an expense on your Schedule C.
In 2011, you can expense up to $5,000 of start-up costs. These costs include business license fees.
Most Popular Tax Questions
This advice is for general information purposes only and may not apply to you. Every tax situation is different. This is not intended to be legal advice. Taxpayers should consult an H&R Block Tax Professional regarding their individual tax situation.