Questions

are the services provided by Clarity.fm tax deductible?

3answers

Most expenses (in most countries) that are directly related to the advancing your business are tax deductible. For example, marketing on FB or Google Ads, using an attorney or other counsel - like on clarity.
Good luck


Answered 3 years ago

I believe they are not, and it has been clearly mentioned in “Terms Of Service.”
The amount due and payable by a Seeker relating to Appointment time with you is referred to as an “Appointment Fee”. Appointment Fees are quoted in each Listing, in U.S. dollars and in a price per minute format (the “Appointment Fee Rate”). Please note that it is Experts, and not Clarity, which set all Appointment Fee Rates.
You can read more here: https://clarity.fm/terms
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath


Answered 3 years ago

Whether services provided by Clarity.fm are tax deductible depends on several factors, primarily related to the nature of the services and your business circumstances. Generally, if the services are directly related to your business activities, they may be deductible as a business expense. Here are some key points to consider:

### Factors to Determine Deductibility:
1. **Business Purpose:** The services must be directly related to your business. If you use Clarity.fm for professional advice, consulting, or other services that help your business operate, grow, or solve problems, they are more likely to be deductible.
2. **Ordinary and Necessary:** According to the IRS, business expenses must be both ordinary (common and accepted in your industry) and necessary (helpful and appropriate for your business).
3. **Documentation:** Keep detailed records and receipts of the services purchased from Clarity.fm, including descriptions of the services and how they relate to your business.

### Steps to Ensure Deductibility:
1. **Record Keeping:** Maintain thorough records of all Clarity.fm transactions, including the date, nature of the service, and how it benefits your business.
2. **Consult Your Accountant:** Tax laws and regulations can be complex and vary by jurisdiction. It's essential to consult with a tax professional or accountant to ensure that you are correctly categorizing these expenses and complying with all relevant tax laws.
3. **Categorize Properly:** When recording the expense in your accounting software, categorize it correctly (e.g., "Professional Services" or "Consulting Fees").

### IRS Guidelines:
- **Publication 535 (Business Expenses):** This publication provides comprehensive information on what kinds of business expenses are deductible.
- **Section 162 of the Internal Revenue Code:** This section covers the general rule for deducting business expenses.

### Example Scenarios:
- **Deductible:** You hired a business consultant through Clarity.fm to help with strategic planning for your business.
- **Not Deductible:** You used Clarity.fm to get advice on personal financial planning not related to your business.

For precise guidance tailored to your specific situation, it's always best to consult with a tax professional who can provide advice based on the latest tax laws and your unique business circumstances.


Answered 10 days ago

Unlock Startups Unlimited

Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly.

Already a member? Sign in

Copyright © 2024 Startups.com LLC. All rights reserved.