Accounting expenses, auditing expenses, and bookkeeping expenses are all deductible business expenses. Here is a more detailed list of accounting-related expenses you can deduct:
- Bookkeeping expenses
You can deduct all expenses for bookkeeping, including those for a bookkeeper, or for bookkeeping and accounting software to help you or an employee do your bookkeeping.
- Accountant/CPA/Financial Adviser
The services of an accountant, CPA, or financial adviser for review of financial statements or business (but not personal) financial planning.
If you are a public corporation, fees for an auditing firm.
- Tax Strategy and Tax Preparation
The services of a CPA, tax attorney, or tax adviser, for tax strategy and tax preparation, including preparing and filing forms.
- Other Tax Issues
Services of a CPA, Enrolled Agent, or tax attorney to prepare for and attend tax audits and investigations, to represent you before the Internal Revenue Service or Tax Court.
- Costs of Defense
You may also deduct your costs for travel and other expenses to defend against the IRS or state agency audits or challenges, as well as expenses you paid to advisers for their expenses.