To be deductible, expenses must be ordinary (common in your industry) and necessary (helpful for your business).

Commonly deductible:

– Office rent, utilities, supplies

– Employee salaries and benefits

– Professional services (accounting, legal)

– Marketing and advertising

– Business travel and meals (meals 50% deductible)

– Vehicle expenses or mileage

– Software and subscriptions

– Insurance

– Education and training

– Home office (if exclusively used for business)

Not deductible:

– Personal expenses

– Commuting to regular workplace

– Federal income taxes

– Fines and penalties

Always keep detailed records and receipts. Consult a tax professional for your specific situation.