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
- depreciation
- 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
- publications
- 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