Is tax preparation fees deductible a business expense?
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Tax preparation fees can be deducted as a business expense if they are directly related to the preparation of the business portion of your tax return, such as Schedule C for sole proprietors or Schedule E for rental properties. However, fees related to the preparation of personal tax returns are not deductible following the Tax Cuts and Jobs Act of 2017, which suspended miscellaneous itemized deductions subject to the 2% floor through 2025.