Tax Deductions 4
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Business Expenses Deductible the Year in Which the Expense Is Incurred
- advertising expenses
- advertising giveaways
- airplane and cab costs on business trips
- association dues
- answering service
- auto mileage or car expense*
- bad debts
- bank fees
- beeper service
- blank computer floppy disks
- blank CDROM disks
- books related to your business
- business cards (if you are in business already)
- business gifts*
- business insurance fees
- calendar
- cellular phone service
- college courses to improve business skills*
- commissions
- consultant fees
- copy paper
- copyright registration fee
- employee salaries*
- digital camera (prorated to the business use)
- file folders
- hotel/motel fees*
- industry directories
- ink cartridges
- interest on business loans
- interest on business credit cards
- internet access and online service fees (prorated to business use for homebased businesses
- licenses
- business meals* (partially deductible - see additional information in this chapter)
- notepads
- paper daybook/scheduler
- pencils
- pens
- postage
- professional fees (attorney, CPA, etc.)
- professional journals and trade magazines*
- publicity expense
- repairs of business property or equipment
- seminars*
- stationery
- telephone calling cards used for business
- toIls and parking fees
- toner for copier, fax, printer
- trade show booth fees
- training tapes (audio and video)
- travel*
- voice mail or answering service
- wages paid to employees
- Home Office*
- Rent, real estate taxes, mortgage and utilities are fully deductible for non homebased businesses;
home businesses may allocate part of these expenses to the business
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