Can you write off are credit card fees tax deductible for businesses?
Credit card fees, such as processing fees or annual fees, are deductible when they are directly related to business activities. For example, if a business pays a fee for processing customer payments via credit card, this fee is deductible. However, fees related to personal purchases or personal credit cards are not deductible. It's important to distinguish between personal and business expenses and ensure that only business-related fees are claimed. Additionally, if a credit card is used for both personal and business expenses, only the portion of fees attributable to business use can be deducted.