How do I record payments made to Fiverr as business expense for tax purposes since Fiverr does not issue an invoice.
I am not an accountant. But, I own 2 business and employ an accountant.
First, you should seek the advice of a qualified tax accountant.
- If you are going to report the entire $5, you may be able to claim the 20% as a cost of goods sold. Ask your accountant.
- If you don’t report the $5 and only report the $4, then there is no reason to expense the payments. Ask your accountant.
Our customer support team can issue invoices for you. All you have to do is contact them to request it.