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Is it possible to write off business advice as consulting…

Customer Question
Is it possible to...

Is it possible to write off business advice as consulting from a psychic?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

Thats pretty much it

Submitted: 28 days ago.Category: Tax
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3/28/2018
Tax Professional: emc011075, Tax adviser replied 28 days ago
emc011075
emc011075, Tax adviser
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Customer reply replied 28 days ago
Just suggestions on what business practices to follow, advice for general business improvements, what industries to move into etc.
Tax Professional: emc011075, Tax adviser replied 28 days ago

In that case unfortunately no. Unless consulting a psychic is a common practice in your line of business it is not considered a legal advice.

There are common deductions and there are deductions unique for each business. Why psychiatric evaluation is common business deduction for a psychologist, it would be not deductible for a financial planner. If your business is in selling physic books and accessories, then it could be an deductible expenses, depending what exactly did you discussed. But if you sell bicycles, consulting a psychic for a legal or business advice would not be considered deductible business expense.

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