Guide to Business Deductions

There are several misconceptions about what items a business can and cannot deduct. What can and cannot be deducted by a business changes as tax regulations change. The list below contains items that a business can deduct in 2018.

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Automotive Repairs

Banking Service Charges

Charitable Donations

Cost of Goods Sold

Educational Training Expenses for Employees

Interest Expense

Maintenance and Repairs

Office Supplies

Tools

Service Expenses

Professional Fees Related to Accounting, Business Improvements, Consulting, and Legal

Rent Expense

Lease Expense

Salaries and Wages

Utilities

Travel Expenses for the Company

Tax Benefits Resulting From Previous Years

Research and Development Costs