Can I write off PayPal or Stripe fees?
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PayPal or Stripe fees are considered ordinary and necessary expenses incurred in the course of running a business. These fees are deductible as they are directly related to the processing of payments for goods or services provided by the business. For example, if you sell products online and use PayPal or Stripe to process payments, the fees charged by these platforms can be deducted as a business expense. However, if the fees are related to personal transactions, they are not deductible.