Nov 14, 2017 – To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business. … Personal Expenses.

Apr 12, 2011 – Consult this list of 75 possible tax deductions for business owners. It's just a start and not every one of these items is always a legitimate deduction. For example, you may be able to deduct entertainment expenses, but only when entertaining a client, customer or employee, while also meeting particular IRS rules.

Mar 9, 2017 – Learn how you can reduce your tax bill with these 12 small business tax deductions. You can deduct everything from office supplies to mileage and software.