It’s my annual “Taxes from A to Z” series! For the series, I’ll focus on terms that you might see on your tax forms and statements but not necessarily in the headlines. If you’re wondering whether you can claim wardrobe expenses or whether to deduct a capital loss, this is one series you won’t want to miss.
Y is for Yellow Pages.
Or should that be YellowPages.com? In today’s economy, there are a lot of options for promoting your business. No matter whether you’re old school (with ads in the newspapers and Yellow Pages) or a little more modern (with social media campaigns and Google ads) or somewhere in between, you can deduct reasonable advertising expenses related to your business on your federal income taxes.
Advertising includes traditional ads, giveaways & promotions, public relations, social media campaigns, and more. And don’t worry about the ROI (at least for tax purposes): you don’t have to prove that the advertising is effective, just that the advertising is reasonable.
