Welcome Guest. Register Now!  


For 2016 Tax Tips For Year 2016.


Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 01-06-2017, 12:51 AM
Junior Member
 
Join Date: Jan 2017
Posts: 1
1099-K Question - Fees paid to 3rd party processor?

I am a contractor through Upwork.com and they will be issuing me a 1099-K this year. They will take anywhere from 5-20% of the gross amount billed to my clients as a fee. Are those fees tax deductible or an expense? This is my first year filing solely as a contractor and any insight would be greatly appreciated!



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
How to account for fees paid for professional help? Barry1156 Sole-Proprietorship 1 02-09-2014 09:37 PM
trial balance issuance to client/third party confusedbydebt CPA Forums 3 06-06-2013 03:32 PM
What are the tax proposals laid out by Tim Pawlenty, the Tea Party favorite? WyomingCPA Miscellaneous 0 06-11-2011 12:52 PM
1099-c and attorney fees buckone Income 1 04-04-2011 08:14 PM
Seeking help on third party's share of return. kwfender Miscellaneous 0 01-18-2011 09:17 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.