Can I Write-off the Purchase of Business Books?

Today’s question is from Elizabeth of Paper Bliss Designs.

Can I write-off business books or business planners/workbooks at tax time?

Great question Elizabeth! As with most things regarding the IRS, every situation is unique and there is a lot of room for interpretation. The general rules regarding business expenses are that they must be ordinary and necessary for your trade or profession. Most likely business books to help you grow your business or learn more about your line of business would qualify.

 So books on business accounting, taxes, marketing, or industry specific books would definitely qualify. I would caution against not pushing the envelope too far by writing off very general books (such as books on productivity or time management) or general day planners. I think it’s always best to take a conservative approach when it comes to IRS rules! So yes deduct your business products and books, but personally I wouldn’t deduct books on more general topics.

If you have a tax, accounting, or business question, you can email me at [email protected]