travel expenses Archives

18 Tax Deductions for Small Businesses

Posted on October 25, 2022 (November 13, 2023) by Andrew Litchford

If you operate a pass-through entity like a sole proprietorship, general partnership, or LLC, there are several business expenses you can make on your personal tax return to lessen your tax liability. What expenses are tax deductions for small businesses? Here are 18. 18 tax deductions for small businesses 1. Business Meals Typically, you can

Meal, Travel and Entertainment Expenses: Know what’s Deductible

Posted on November 21, 2019 by Andrew Litchford

Business meal and travel expenses are still deductible if they qualify as legitimate business expenses, though the deduction for meal expenses continues to be limited to 50% in most cases.