Can a BP upgrade be considered a business expense?

Question

Can upgrading to a BP pro membership be considered a business expense being it grants access to tools to help find and analyze more properties?

I would think it could be, just as any other tool purchased to make your business better but curious if anyone has done it?  Don't see how this is different than purchasing Microsoft Office or another program to help run number more efficiently.

Brian Walters · Answer

Thank you all for the replies and advice.

Basit Siddiqi, would this mean that if you are just starting out, set up a LLC and are looking for that first property this would not be deductible?  Wouldn't it justify as an expense to help find that first property just as much as any property after that?

Basit Siddiqi · Answer

@Brian WaltersIf you currently operate a business, the BP Pro membership would be deductible. It helps you get access to unique content and helps you network, etc. It is easy to show that it is an ordinary, necessary and reasonable for investors.however, if you have no business(no rentals or no flips), then this item may potentially not be deductible.

Ashish Acharya · Answer

Yes

Bryan Balducki · Answer

@Brian Walters yes, you should definitely write this expense off. Talk to your CPA and I am not one ( this is not tax advice) but I believe you will be perfect okay using this as a business expense.