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2. Tax Deductions for Small Businesses - AOL

   www.aol.com/finance/tax-deductions-small...

   Similarly, companies that need telephone and internet services can deduct these costs from their business taxes. If you use your phone and internet for personal and business purposes, you can only ...

3. 15 Self-Employment Tax Deductions You Should Know - AOL

   www.aol.com/15-self-employment-tax-deductions...

   For example; if you have a prospective client meeting at a restaurant to discuss doing business together and spend $200 on food and drinks — you can deduct $100 of the cost on your business tax ...

4. 35 essential business expense categories for businesses of ...

   www.aol.com/35-essential-business-expense...

   Startup costs A limited portion of the costs associated with starting a small business may be deductible. These costs might include market research, employee training, business development, and ...

5. Internal Revenue Code section 162(a) - Wikipedia

   en.wikipedia.org/wiki/Internal_Revenue_Code...

   It concerns deductions for business expenses. It is one of the most important provisions in the Code, because it is the most widely used authority for deductions. [1] If an expense is not deductible, then Congress considers the cost to be a consumption expense. Section 162(a) requires six different elements in order to claim a deduction. It ...

6. Job-seeking expense tax deductions - Wikipedia

   en.wikipedia.org/wiki/Job-seeking_expense_tax...

   [1] For purposes of the average taxpayer looking to deduct expenses related to seeking new employment, the relevant inquiry is whether the new position sought can be deemed to be "carrying on" the prior business or trade of that taxpayer, [5] as costs associated with starting up a new business or trade are not immediately deductible and are ...

7. Public policy limitation on deduction for business expenses

   en.wikipedia.org/wiki/Public_Policy_Limitation...

   For example, § 162(c)(1) disallows a deduction for illegal bribes or kickbacks to a domestic government official or agency, and § 162(f) disallows a deduction for fines paid to the government for violating the law. Furthermore, § 280E prevents a taxpayer from taking a deduction related to the business of selling illegal controlled substances.

8. A Guide to Tax Deductions for Home-Based Businesses - AOL

   www.aol.com/finance/taking-advantage-tax...

   With relatively low startup costs, many entrepreneurs start and grow their businesses from their homes. Home businesses may also be eligible for tax deductions that can save you money, both in the ...

9. Itemized deduction - Wikipedia

   en.wikipedia.org/wiki/Itemized_deduction

   For example, if a taxpayer has adjusted gross income of $50,000 with $4,000 in miscellaneous itemized deductions, the taxpayer can only deduct $3,000, since the first $1,000 is below the 2% floor. There are 12 deductions listed in 26 U.S.C. § 67(b).