Tax Guide |
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To help you decide whether a particular expense is likely to be deductible, we've provided a list of the most common business deductions.
List of common deductible expenses:
If you don't see an item you're interested in on this list, check our list of common nondeductible expenses as well.
The IRS form on which these deductions must be reported will depend on your form of business operation, that is, whether you're a sole proprietorship, partnership, LLC or corporation.
If you operate your business as a sole proprietorship, you will report business deductions on Schedule C of Form 1040. You can use the simpler Schedule C-EZ if you meet the following requirements:
If you do business as a partnership, you'll file Form 1065.
If you operate as a corporation, you'll file Form 1120-A, Form 1120, or Form 1120-S for S corporations.
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