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Deducting Business Expenses Small Business Tax Tip Small

Deducting Business Expenses Small Business Tax Tip Small

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The cost of driving for business purposes is tax deductible.

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According to the United States Internal Revenue Service (IRS), business tax deductions for 2015 totaled over $1.1 trillion. That's one big opportunity.

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If you own a small business, there's a good chance that many of your expenses qualify for a tax deduction.

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... expenses for businesses not covered by your employer, you may be able to file the IRS Form 2106 that allows you to make these deductions on your taxes.

Businesses may deduct ordinary operating expenses.

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