Can you write off are transaction fees tax deductible?

Transaction fees, such as those charged by credit card companies, payment processors, or banks, are deductible if they are directly related to your business operations. For instance, if you are a freelancer and incur transaction fees when receiving payments from clients via PayPal or a similar service, these fees can be deducted as a business expense. However, personal transaction fees are not deductible. It's important to ensure that the fees are directly tied to business income or expenses. For example, if you use a payment processor for both personal and business transactions, only the fees associated with business transactions are deductible. Additionally, if the fees are part of a larger financial service package, only the portion directly related to business activities can be deducted.