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Deducting Business Expenses
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TOPIC: Deducting Business Expenses

Deducting Business Expenses 5 years, 6 months ago #3

  • aaronpetry
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Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business is operated to make a profit.

What Can I Deduct?

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. An expense does not have to be indispensable to be considered necessary.
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