Posted by: taxesplusllc | September 2, 2009

List of Common Business Deductions

To help you decide whether a particular expense is likely to be deductible, we’ve provided a list of the most common business deductions.

List of common deductible expenses:

  • advertising
  • bad debts from sales or services (for those using accrual accounting)
  • bank fees on business accounts
  • car and truck expenses
  • commissions and fees
  • cost of goods sold
  • deprecitation
  • dues for trade associations and other not-for-profit, business-related organizations
  • employee benefits
  • gifts to customers, suppliers, etc.
  • insurance (casualty and liability)
  • interest
  • legal and professional services
  • meals and entertainment
  • office expenses
  • pension and profit-sharing plans
  • rent or lease expense
  • repairs and maintenance
  • services performed by independent contractors
  • supplies and materials (not included in cost of goods sold)
  • travel expenses
  • utilities
  • wages of employees

If you don’t see an item you’re interested in on this list, check our list of common nondeductible expenses as well.

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