Are banking fees a write-off come tax season.?

I am curious to know if banking fees are a write off for businesses. I am starting a company for myself in order to do consulting work, and I was curious if fees for accessing money are considered a write off at tax time. IE: Wire Transfer fees, monthly banking fees.. etc etc etc.

Any help would be greatly appreciated.

I wasn't inferring that there are "Special" write offs for business, but more wondering if business are allowed to write it off. I know I can't write it off personally at tax time, and was unsure if businesses could.

Any expenses that a business incurs during the course of business are deductible from their income. The difference between their gross income and those expenses is their net income (roughly, there are other considerations). They pay taxes on their net income.

I've never understand why many people seem to think there is some special 'write-off' for businesses. They pay tax on their net income, in order to deduct the expenses, they had to PAY them. So it's really no gain for them.

I highly doubt it, but check with your tax preparer. He/she has the answer to your questions.

if it is a union bank the union charges are deducatable...but not overdraft or transfer fees at any bank and monthly service fees for non union banks

Yes, as long as they are incurred in the normal and necessary function of a business. You cannot wirte off personal checking account fees.

I personally have no idea, but I gave you a star because its a good question. :)

Are you referring to a tax writeoff for the company?

The usual practice is to write those fees off.

Ya along with sales tax!