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Advice for a small bed-and-breakfast trying to get on the map for international tourists
By John Tozzi
Are you leaving tax savings on the table? Plenty of legitimate business expenses aren't spelled out by the Internal Revenue Service. It's up to you to find them—and keep records that will show they're reasonable if you get audited. Most "ordinary and necessary" business expenses can be deducted, says Bernard Kamoroff, a CPA and author of "422 Tax Deductions for Businesses & Self-Employed Individuals." Here are 25 write-offs Kamoroff identifies that you may qualify for without even knowing. When in doubt, check with your accountant to see if these apply to you.
Business Exchange related topics:
Small Business Tax Deductions
Small Business Accounting
Small Business Operations