Business Bank Account Fees
Monthly fees, wire transfer charges, and other banking costs for your business accounts.
Tax Form
Schedule C, Line 27a
Estimated Savings
$50-300/year
How It Works
Fees charged by your bank for business account services are deductible expenses. This includes monthly maintenance fees, wire transfer fees, check printing costs, and overdraft fees on business accounts. Note that late payment fees are classified as penalties and typically are NOT deductible. Having a separate business bank account also makes tax time much easier.
IRS Rules & Requirements
- Only business bank account fees are deductible (not personal accounts)
- Deductible fees: Monthly maintenance, wire transfers, check printing, ACH fees
- Late payment fees are NOT deductible (classified as penalties)
- If using a mixed-use account, only deduct business portion
- Keep bank statements showing fees charged
Real Examples
Business checking account at $15/month = $180/year deduction
Wire transfer fees totaling $100/year = fully deductible
Check printing at $50 = fully deductible
Common Mistakes to Avoid
- Deducting fees from personal bank accounts
- Trying to deduct late payment penalties
- Not keeping bank statements as documentation
- Missing deduction for small transaction fees
Pro Tip
Open a dedicated business bank account - it makes tracking deductible fees easy and separates business from personal finances, which the IRS prefers to see.
Related Deductions
Business Credit Card Fees
Annual fees and interest charges on business credit cards used for your content business.
Accountant & CPA Fees
Tax preparation, bookkeeping, and accounting services for your business.
Payment Processing Fees
PayPal, Stripe, and other payment processor fees on business income.
Not sure if you qualify?
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