Business Tax Deductions El Campo TX

Deductible Expenses

• Office expenses
• Rent or lease payments
• Advertising
• Costs of goods sold
• Insurance costs
• Utilities
• Payments to independent contractors [file form 1099]
• Accounting fees
• Legal fees
• Communication expenses
• Credit Card Interest for business charges
• Travel expenses
• Vehicle expenses
• Business-related meals and entertainment
• Uncollected receivables
• Bank fees on business accounts
• Interest payments on notes
• Excise and fuel taxes
• Employment taxes
• Real estate tax paid on business property
• Special local assessments for repairs or maintenance to business property
• Promotional costs that create goodwill such as sponsoring a youth team
• Business association dues
• Business-related magazines
• Casualty losses
• Beverage services
• Credit bureau fees
• Taxi fares
• Telephone calls made on trips
• Self-employment tax [if applicable]