Watch out for deductions that fall through the cracks. Here's a list of out-of-the-ordinary deductible business expenses you might overlook:
- Advertising and promotion expenses.
- Alarm system for business items kept at home.
- Audio, videotapes and DVDs enhancing business skills.
- Bad business debts (to the extent they are worthless).
- Bank service charges.
- Beverage and snack services.
- Business interruption insurance.
- Commissions to salespeople.
- Computer software used for business.
- Consulting fees.
- Credit bureau fees.
- Gifts to business clients (limited to $25 per recipient).
- Home entertainment expenses for business-related entertainment.
- Internet service-provider fees.
- Legal fees (including related administrative costs).
- Long-distance business calls.
- Office supplies.
- Online computer services (business-related).
- Pagers and beepers.
- Passports for business use.
- Petty cash expenditures.
- Postage, delivery and freight charges.
- Professional association dues.
- Property and casualty insurance.
- Refresher courses for your current job.
- Repairs of business equipment.
- Seminars and trade shows.
- Subscriptions relating to your business.
- Taxicab and bus fares.
- Telephone line for business at home.
- Travel incidentals (laundry, airport shuttles, tips, etc.).