Posts tagged: Tax Deductions

Business Expenses and Tax Deduction

Business Expenses - What Expenses are Tax-Deductible? The more business expenses you legitimately deduct, the lower your taxable income will be. Here is a summary of business expenses that you may deduct to lower taxable profit. Business Expenses Expenses to Run Business Auto Expenses (Cars and Trucks) Legal and Professional Services Commissions and Fees Travel Expenses Meals and Entertainment Education Expenses Taxes and Licenses Insurance Bad Debts from Sales or Service Interest Software Expenses to Run Business This refers to expenses that go into business when you operate business. Advertising and Promotion Office Supplies (Office Expenses): consumable supplies such as pens, pencils, paper, pads, books, receipt books, or related supplies Utilities: including telephone, electricity, gas, water, or sewer ...