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Can I deduct Broker fees and Trailer rental

I am wondering if I can deduct my Broker Fees and My re usually 10 percent and my trailer fees are 8 percent of every settlement. If I can deduct these items how do i show them in my profit gauges.

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3 Answers

If the 10% is taken out by the broker then no.

But if the 10% is paid by you to the broker or deducted by your carrier on the settlement then yes.

the trailer fee you can deduct because it's on your settlement.

Good rule of thumb: if it's on the settlement or you get a receipt then its deductible

Anything on your settlement would go under expenses just create a new expense.

If your brokers fees are paid out of pocket, that would go under the expense category where ever you want to put it.

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Okay. Thank you that makes sense.

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yes

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Greg Anderson will be eternally grateful.
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