“If you pay for something that is considered “ordinary and necessary” to run your business, then it’s deductible.
Questions you can ask yourself are: 1) Do I need this to run my business? or 2) Would this improve my ability to run my business?”
“Absolutely! You’ll want to keep as much information on your business as possible. Documentation like receipts, invoices, and bank statements are great ways to back up the income and expenses that you report on your tax return. You can store photos of your receipts in Stride Tax!”