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How to deduct Domain fees

     
8:41 pm on Feb 21, 2005 (gmt 0)

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Hello,

I hope someone can help me with this. In August last year I bought a few domain names, and now I want to deduct the expense. However, I realize that I paid for the whole year to the domain registar.

How do you deduct the domain name expenses? Can I deduct the total amount or I can claim just a half of it since the purchase took place in the middle of the financial year?

Please anyone?
Nova

8:54 pm on Feb 21, 2005 (gmt 0)

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Deduct the full amount on your US taxes. It's a business expense, half year or not.
9:02 pm on Feb 21, 2005 (gmt 0)

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FYI, I prepaid my primary domains for years in advance.

Why? Just ask a several of my customers that lost their ecommerce domain names when they forgot to renew and had them hijacked last year.

10:14 pm on Feb 21, 2005 (gmt 0)

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Thank you!
Nova