Consulting Fees Tax Deductions

Fees paid to business consultants, advisors, and strategists are fully deductible. Covers management consulting, IT advisory, marketing strategy, and more.

consultingadvisorybusiness strategyprofessional services

check_circleWhat You Can Deduct

  • checkManagement and strategy consulting
  • checkIT and technology advisory
  • checkMarketing and branding consultants
  • checkFinancial advisory services
  • checkHR and recruitment consultants
  • checkOperations improvement consulting

lightbulbTips for Keeping Records

  • tips_and_updatesGet a detailed invoice specifying the business services provided
  • tips_and_updatesConsulting fees over $600 require you to issue a 1099-NEC
  • tips_and_updatesDocument the specific business problem each consultant addressed
  • tips_and_updatesRetainer fees are deductible as services are rendered

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