is advertising a business expense?

[hit55brooks]

What is the name of your state?PA

I run a online business selling sports memorabilia. i advertise on online shopping web sites such as shopping.com and yahoo shopping. can i write off all the money I spend on advertising and get that back at the end of the year? also do i have to have the receipts for everytime i spend money on advertising or can i just show use my credit card statements that I use for my business? thank you

 

[Charles11]

What is the name of your state?PA

I run a online business selling sports memorabilia. i advertise on online shopping web sites such as shopping.com and yahoo shopping. can i write off all the money I spend on advertising and get that back at the end of the year? also do i have to have the receipts for everytime i spend money on advertising or can i just show use my credit card statements that I use for my business? thank you

Yes, advertising is a business expense that you will itemize on your form 1040 Schedule C. It will reduce your gross income in order to arrive at your net profit. You will not get it "back at the end of the year".

Your credit card statement can serve as evidence of your expenses. You may want to jot down in a journal when and what you use your credit card for as sometimes the descriptions on the statement are lacking.