Business Tax Deductions
Author: Richard Chapo
As we enter mid-March, taxpayers begin to become very interested in deductions. Following are a few that you may be entitled to claim.
Deductible Expenses
· Office expenses
· Rent or lease payments
· Advertising
· Costs of goods sold
· Insurance costs
· Utilities
· Payments to independent contractors [file form 1099]
· Accounting fees
· Legal fees
· Communication expenses
· Credit Card Interest for business charges
· Travel expenses
· Vehicle expenses
· Business-related meals and entertainment
· Uncollected receivables
· Bank fees on business accounts
· Interest payments on notes
· Excise and fu...
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