With tax season here, I thought it would be nice to see a thread sharing deduction tips for website business owners that we may not have thought of.
Some of you may have already done your taxes, but I always procrastinate. I hate numbers, paperwork and taxes.
I'll start with one tip. If you use PayPal for your site or business, you can deduct the transaction fees PayPal takes.
In PayPal, go to My Account / Reports / 2010 Financial summary
You'll find a nice downloadable .pdf of your history from last year.
Under the fees section, you'll find "Payment fees," showing the total amount of fees charged by PayPal for payments you have received.
Any other tips for deductions?
