Can I deduct the money I pay for my newsletters if I'm not concidered a trader?
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Oldman answered one year ago …
Yes, you CAN! But it's in the section allocated on the itenmized list as business expenses...safe-deposit rentals for securities or bullion; investment advisory charges and tax-preparation fees. Of course these are reduced by 2% of your adjusted gross income. Please look up the section in www.irs.gov that's entitled "Miscellaneous Business Expenses" for what's allowed, and what's not.
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676 points
RobSmith answered one year ago …
If you are in a business that has anything to do with online media, online finance, finance in general, then yes. Even if you sell clothes online you can consider it "market research" by subscribing to some of these newsletters (you're studying how they market).
But if you're in a business that's not related to finance or online at all, then I'd say no.
You might want to ask your accountant if you can use the fee as some type of "education" tax credit. It's a stretch, but there might be rule on this somewhere.
