Although it is possible to deduct actual expenses such as gas and maintenance, most business owners see a bigger deduction when they use the 54.5 cents per mile (in 2018) allowance.

List of Tax-Deductible Business Expenses. Rather than provide a specific list, ... For example, a 100-square-foot office in a 2,000-square-foot home is 5 percent of the home, ...

As a business owner, you’ll have a lot of expenses and investments to weigh as you grow your company. For instance, you’ll likely invest in certain technologies, services and processes that ...

3. Making Clear Decisions. One of the easiest ways to cut out expenses starts with having 100% clarity in business spending. Once you have an accurate accounting of it, then you can go through to ...

For example, the costs of meals provided by restaurants for business purposes can be 100% deducted in 2021 and 2022 (due to the Consolidated Appropriations Act), but the normal limitation is 50%.

Examples include sales commissions, shipping expenses, and maintenance. When business is booming, these expenses tend to grow. When it’s not or when everything shuts down, they decrease.

That's because your deduction depends on the percentage of business expenses among the charges on the card. For example, if only 75% of your card spending was on business expenses, you can deduct ...