10 Tax Deductible Small Business Expenses

10 tax deductible small business expenses

Small business owners can generally deduct certain expenses on their taxes. But which ones? Here’s a quick look at what’s deductible and what isn’t, according to the Internal Revenue Service (IRS).

These Items Are Typically Tax Deductible:

  1. Employees’ pay
  2. Retirement plans
  3. Business rent
  4. Interest
  5. Taxes
  6. Insurance
  7. Business meals
  8. Business travel
  9. Business use of your car
  10. Business use of your home

These Items Are Typically NOT Tax Deductible:

  1. Personal, living or family expenses
  2. Business startup costs
  3. Business assets
  4. Business improvements

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Written by Allstate