Deductible

Listed below are additional business deductions to consider:

• pension and profit-sharing plans
• rent or lease expense
• repairs and maintenance
• audio--and videotapes related to business skills
• bank fees on business accounts
• business association dues
• business gifts
• business-related books or magazines
• casual labor and tips
• casualty and theft losses
• coffee and beverage service
• commissions and fees
• credit bureau fees
• utilities
• wages of employees
• office supplies
• online computer services related to business
• parking and meters
• petty cash funds
• postage
• promotion and publicity
• seminars and trade shows
• taxi and bus fare
• telephone calls away from the business
• cost of good sold
• depreciation
• employee benefits
• insurance (casualty and liability)

The following items usually will not be allowed as a business expense deduction.

• club dues (country club, social club, or athletic club)
• bar or professional examination fees
• capital expenditures (yearly deductions are allowed to recover the cost of the item over a certain time period)
• clothing or a uniform that is worn during non-working hours
• commuting expenses
• estate tax
• expenses, including interest, paid to generate tax-exempt income
• federal income tax
• fines and penalties incurred for violations of law
• gift tax or inheritance tax
• gifts, valued at more than $25, to employees 
• any portion of a gift to a business contact that is valued at more than $25
• job hunting expenses for a new trade or business
• life insurance premiums
• lobbying expenses 
• partnership organizational expenses, unless amortization election made
• personal, living, or family expenses
• political contributions
• tax penalty payments
• transfer taxes on business property