Business and Self-Employment Expenses

Business and Self-Employment Expenses

The following are examples of business expenses:

  • Accounting, legal, and consulting expenses
  • Advertising
  • Automobile expenses (used for business)
  • Bad debts
  • Business-related memberships and subscriptions
  • Business taxes, fees and dues
  • Continuing Education to improve business skills
  • Convention expenses (up to 2 per year)
  • Delivery and freight
  • Depreciation of capital assets
  • Equipment rental
  • Insurance
  • Interest and bank charges
  • Maintenance and repairs
  • Management and administration fees
  • Meals and entertainment expenses (50% deductible)
  • Office expenses
  • Property taxes or rent on business property
  • Purchases of materials and supplies
  • Salaries paid
  • Subcontractors’ costs
  • Traveling expenses
  • Utility expenses
  • Workspace in the home (proportionate – includes rent, mortgage interest, property taxes, insurance, utilities, and maintenance)