Can I take ATM Withdrawal as a deduction?

This was use to pay myself

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Dixon Garcia

CPA, FlyFin

In general, the IRS does not allow any Entertainment, Personal, living or family expenses as tax deductions. However, if the Cash Withdrawal amount is utilized for your freelance business, the expenses are deductible on Schedule C of Form 1040.

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Dixon Garcia

CPA, FlyFin

Dixon is one of the best tax experts from the United States. He has an experience of 28 years in the field of corporate finance. Before FlyFin, Dixon had served as the Tax Head at KPMG, NJ.