Insufficient Funds

[magsgma]

Should I include Insufficent funds fee on a parents receipt?
Can I claim these charges from my bank on my taxes?

[TomCopeland]

Insufficient funds

Yes, you can charge parents bank fees when they bounce a check on you. It's best to include in your contract that you will charge these fees. If the parent pays these fees, you must report them as income. Whether or not they pay these fees, you can deduct the cost of bank fees to you.

[magsgma]

Thanks Tom!