| Common
Tax-deductable Costs & Expenses...
Business:
- Purchases
for resale
- Salaries,
Labor & Commissions
- Depreciation
on purchased furniture and equipment
- Subcontracts
- Business
meals and entertainment (50%)
- Business
travel and automobile expenses (business portion)
- Office
supplies
- Computer
software used for business
- Postage
and shipping used for business
- Education,
seminars, etc. provided employees
- Reference
materials, books, etc.
- Employee
benefits - insurance, pension plans, etc.
- Corporate,
payroll and property taxes
- Rent,
utilities, telephone for business including home office
expenses
- Interest
on business loans
- Legal,
license, accounting, tax perparation
- Advertising,
promotion, marketing costs
- Bank
charges
Personal:
- Medical,
dental and related expenses including health insurance
premiums in excess of 7.5% of income
- Property
taxes, auto registration fees
- State
income taxes (deductable on Federal Tax Return only)
- Mortgage
interest and points
- Charitable
contributions
- Casualty
losses from theft, fire, flood, etc. (excluding any insurance
payments received)
- Unreimbursed
job expenses in excess of 2% of income (that's why I encourage
you to get our expenses reimbursed)
- Tax
preparation, safe deposit box, investment broker fees
in excess of 2% of income
- 50%
of Self Employment Tax
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