What business expenses are tax deductible?
Short Answer: Most expenses are deductible if they’re ordinary and necessary for your business.
Common deductible categories include advertising, software, professional services, insurance, supplies, and business-related travel and meals (with rules). You should be able to show what you bought, when, and why it was business-related.
Common mistakes:
• Writing off personal expenses
• Poor documentation
• Mixing business and personal spending
What we recommend: Keep clean records and separate accounts, it makes deductions safer and tax time easier.
Still have questions?
If you’re not sure what applies to your situation, we can help.