Do you spend money on your business throughout the year? If you’re a business owner, I’m sure you do. While some of those costs can be deducted from your tax return, not all business expenses qualify. Learn what types of costs you can deduct, as well as what it means to overstate your business expenses – and what penalties you might face from the IRS if you do.
Key Insights We Will Discuss
- What counts as a business expense
- Separating your expenses
- Types of expenses you can deduct on your tax return
- What is means to overstate your business expenses
- Penalties for making false deductions on your returns
What Counts as a Business Expense?
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