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Can PayPal fees be written off?
Thread poster: MagicSpel
MagicSpel
Local time: 20:17
English to Polish
+ ...
Mar 13, 2007

Hi Everyone:

I got a new accountant recently who isn't very familiar with PayPal/Moneybookers. However, she is surprised at how high the fees are for PayPal (I have a busineiss account and lose 3% to fees (no clue why that much) for each payment that comes onto my account.

Is it possible to declare theses fees as an expense for tax purposes? I'm in Poland, but any input will be appreciated.


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Sonia Hill
United Kingdom
Local time: 19:17
Member (2010)
Italian to English
Yes Mar 13, 2007

I declare them as an expense in the UK.

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Parrot  Identity Verified
Spain
Local time: 20:17
Member (2002)
Spanish to English
+ ...
Financial costs Mar 13, 2007

They fall under the same heading as the service rates for cashing cheques or making money transfers.

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MagicSpel
Local time: 20:17
English to Polish
+ ...
TOPIC STARTER
No? Mar 13, 2007

Parrot wrote:

They fall under the same heading as the service rates for cashing cheques or making money transfers.


So you mean no?


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Erik Hansson  Identity Verified
Germany
Member (2002)
Swedish
+ ...
Can be written off Mar 13, 2007

As already stated in the previous postings, these expenses can of course be written off. Any account expenses, if for an old-fashioned bank account or an online account, which arise when transferring money to or from your business are deductible. However it would be a good idea to avoid any private transfers connected to your PayPal account, and only use it for business.

Erik

**********************************
Erik Hansson ( SFÖ )
Technical translator DE-SV
Hansson Übersetzungen GmbH
Website www.hansson.de
ProZ profile http://www.proz.com/pro/21654
***********************************


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