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November 5, 2021
Question

My rent for my business property is not showing up as tax deductible. Any Ideas?

  • November 5, 2021
  • 1 reply
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1 reply

November 5, 2021

Your confusion ends here, @helainemtwood-gm.

 

Allow me to fill you in on everything you need to know about deductible taxes.

 

QuickBooks Self-Employed determines whether or not an expense is allowable depending on the information you've entered on your Tax Profile. There are also types of expenses that aren't business allowable depending on your business operation, entity, and local regulation.

 

For instance, if you entered more than 25 hours in your Tax Profile setting, the system will set your Rent, Utilities, and Insurance expenses as disallowable. If you want to claim actual costs, you can leave the Business use of home office box blank and keep categorising your transactions.

 

I'm adding this article for more information: About SA103F Categories.

 

You might also want to add your bank transactions manually in your QuickBooks Self-Employed account. This article will guide you through the steps: Manually add transactions in QuickBooks Self-Employed.

 

It’s nice to work with you, @helainemtwood-gm. Please let me know if you need clarification on deductible taxes. I'll be standing by for your response.