WIXLIB

3990 Warren WayReno, NV 89509Contact Richard: 888.592.4769Richard@USTaxAid.comTHE 1000 DEDUCTION LISTThe rules are simple: you may write off any expense that you can justify as“reasonable and necessary” to the production of income in your business. Thenet is wide, and it’s meant to be – the idea is not to tie your hands, but to setyour business free! Look through the list and mark those that could be used inyour business.DESCRIPTION1.Air Conditioning Filters2.Abacus3.Abandoned property losses4.Abandonment of property used for business purposes5.Abdominal Supports6.Accelerated death benefits7.Accounting services8.Accounts receivable losses, if accrual taxpayer9.Achievement awards – requires plan10.ACRS11.Admission tax12.Advances made to employees or salespeople where repayment is notexpected13.Advances to employees calculated as bonus14.Advertising to attract tenants15.Advertising of vacant premises16.Advertising of Corporation Articles (where required by state law)17.Agency signs18.Air conditioner for rental properties19.Air conditioner - when necessary for relief from allergies20.Air emission tax21.Air freshenersCopyright 2010, Smart Business Series. All Rights Reserved.Page 1 of 32

DESCRIPTION22.Air purifier23.Airborne courier charges24.Airfare for business travel25.Alarm system26.Alarms for valuable equipment27.Alcohol fuels credit28.Alcohol swabs29.Alcoholic beverage tax30.Alimony31.All meals and lodging if for employer’s benefit32.Alterations to business property, if minor33.Alterations, provided they are not capital additions34.Alternative fuel vehicle refueling credit35.Alternative motor vehicle credit36.Amortization37.Amortization of bond premium38.Amusement taxes39.Answering machine40.Antiseptic41.Anti-virus software42.Any business tax (generally speaking)43.Any other business related legal activity44.Apple TV45.Appraisal Fees46.Appreciated property donations47.Arch Supports (off the shelf)48.Archer Medical Savings Accounts49.Architectural consulting and plan drawing costs50.Architectural services51.Artificial eyes52.Artificial limbs53.Artificial teethCopyright 2010, Smart Business Series. All Rights Reserved.Page 2 of 32

DESCRIPTION54.Artwork55.Attorney’s fees56.Auction appraisal fees57.Audio Recording equipment58.Audio Tapes (blank)59.Auditing of your books and accounts60.Auto damages caused by fire, theft, heat, storm61.Auto insurance62.Auto registration tax63.Autocad software64.Automobile lease tax65.B & O Tax66.Back supports67.Backup devices68.Bad Debts – if previously taken into income69.Bandwidth70.Bank card administration fees71.Bank fees for closing accounts72.Bank discount on note is deductible as interest73.Bank wire fees74.Baseball/softball/soccer team equipment for business publicity75.Batteries76.Battery backup77.Below-market loans78.Better Business Bureau Dues79.Billboards and signs80.Billing services81.Binding equipment82.Binding supplies83.Biodiesel fuel credit84.Birthday cards85.Black lung benefit paymentsCopyright 2010, Smart Business Series. All Rights Reserved.Page 3 of 32

DESCRIPTION86.Blood sugar test kit87.Blue Cross/Blue Shield88.Bluetooth Headset89.Board and room for on-site employees90.Board meetings91.Bombardment92.Bonds93.Bonus Depreciation94.Bonuses as additional compensation to employees95.Bookkeeping96.Books for product and professional development research97.Books to record income and expenses or investment income98.Bookshelves99.Tradeshow traveling booth costs100.Braille books and magazines101.Briefcase102.Broadband internet fees103.Broadband T-1 installation fees104.Broadband T-1 monthly usage fees105.Brochures106.Broom107.Building expenses, used for business108.Building repairs for damages caused by tenants109.Buildout costs110.Burglary losses not covered by insurance111.Business Activity tax112.Business Cards113.Business Consultant fees114.Business gifts (limited to 25 per gift)115.Business insurance premiums116.Business Liability Insurance117.Business licenseCopyright 2010, Smart Business Series. All Rights Reserved.Page 4 of 32

DESCRIPTION118.Business property rents119.Business taxes – except federal income taxes120.Business travel121.Business ventures122.Business, cost of operating office123.Cab fare124.Network Cabling125.Cafeteria plan – requires written plan126.Calculators127.Camera128.Capital assets129.Capital assets sale – losses, p to 3,000130.Capital losses131.Car and taxi fares132.Car insurance133.Car cleaning134.Car Driver Service135.Cards (seasonal mailouts)136.Carpet cleaner137.Cash donations138.Casualties caused by fire, theft, heat, storm139.Casualty & theft losses140.Casualty damages replaced, provided they are not capital additions141.Catalog142.Caterer143.CD Burner144.CD Design fees145.CD/DVD cases146.CDs – blank for burning147.Cell phone148.Cell phone service plan149.Certain federal taxesCopyright 2010, Smart Business Series. All Rights Reserved.Page 5 of 32

DESCRIPTION150.Certification cost151.Certified Postage152.Chairs153.Chamber of Commerce Dues154.Charitable Donations on behalf of business155.Charitable travel costs156.Check charges (for returned checks)157.Checks (pre-printed checks purchased)158.Checking account bank charges159.Child care – requires written plan160.Child care tax credit161.Children’s salaries162.Chiropodist Fees163.Chiropractor Fees164.Christian Science practitioner165.Christmas Parties166.Christmas present to customers or prospects – de minimus rule167.Christmas presents to employees, customers, and prospects foradvertising, publicity purposes, goodwill, or if customary in the trade168.City gross receipts tax169.City sales tax170.Classes171.Cleaning172.Cleaning services173.Cleaning supplies174.Cleaning Teeth175.Client meals176.Closing costs177.COBRA Coverage178.Coffee179.Coffee machine180.Coffee purchased outside work181.Copy collatorCopyright 2010, Smart Business Series. All Rights Reserved.Page 6 of 32

DESCRIPTION182.Collection actions taken against others183.Collection expenses, including agency/attorney’s charges184.Color copy machine185.Color printer186.Commission Expense187.Commissions and bonuses as prizes188.Commissions on sales of securities by dealers in securities189.Commissions paid to agents190.Commissions paid to employees for business purposes191.Commissions paid to salesmen192.Commissions to secure tenants193.Company holiday parties and picnics194.Compass195.Computer bag or other carrying case196.Computer paper197.Computer Security Cable (to secure Laptops to furniture)198.Computers199.Condemnation expenses200.Conference chair201.Conference table202.Contact lenses203.Contamination tax204.Continuing care facilities205.Continuing education206.Continuing legal education207.Continuing professional education208.Contributions deductible if made to certain organizations209.Contributions to various organizations for advertising purposes210.Convention expenses211.Convention attendance costs212.Cooperative housing213.Copy machineCopyright 2010, Smart Business Series. All Rights Reserved.Page 7 of 32

DESCRIPTION214.Off-site printing costs (Fed-Ex Kinkos, etc.)215.Copywriting costs216.Corporate franchise tax217.Cost of goods sold218.Cost of manager’s unit, if on-site and at employer’s convenience219.Cost of sales220.Costs of bookkeeping221.Costs of displays, posters, etc., to attract customers222.Costs of investigation of any tax returns challenges223.Costs of preparing and filing any tax returns224.Costs of tax strategy preparation225.Costuming226.Cotton swabs227.Courier228.Covers229.CPA services230.Credit for contributions to certain community developmentcorporations231.Credit for employer-paid Social Security and Medicare taxes232.Credit for wages paid in an empowerment zone233.Credit report costs234.Crime victim payments from a state fund235.Crutches236.Cubicles237.Custom, import or tariff tax238.Cutting tables239.Damage to auto not covered by insurance240.Damages241.Damages to property or assets242.Dances243.Day care facility244.Day laborers245.DC Homebuyer creditCopyright 2010, Smart Business Series. All Rights Reserved.Page 8 of 32

DESCRIPTION246.Decorating247.Decorations248.Deed tax249.Defined Benefit Plan250.Delivery251.Delivery vehicle for business252.Dental X Rays253.Dentist Fees for Braces254.Dentist Teeth Cleaning Fees255.Dependents employed in your business256.Depletion257.Deposit forfeiture, on purchase of property258.Depreciation of building259.Depreciation of personal property260.Dermatologist Fees261.Design Supplies262.Desk accessories263.Desk chairs264.Desks265.DHL delivery costs266.Dial-up Internet Costs267.Dictaphone268.Digital business scanner269.Digital recorder270.Dinners271.Direct labor costs272.Director's insurance273.Disability coverage274.Disabled access credit275.Disaster losses276.Disaster relief and disaster mitigation grants277.Disaster relief paymentsCopyright 2010, Smart Business Series. All Rights Reserved.Page 9 of 32

DESCRIPTION278.Discounts allowed to customers279.Dishwasher280.Distilled spirits credit281.Documentary and stock transfer282.Documentation fees283.Domestic Production Activities Deduction284.Donor-advised funds285.Doorman286.Drafting of agreements, resolutions, minutes, etc.287.Drafting table288.Driver’s license fee289.Drought290.Drug testing291.Drycleaner fee292.Duct tape293.Dues to unions and professional associations294.Dumpster295.Dun & Bradstreet membership296.Dustpan297.DVDs298.E & O Insurance299.Earned income tax credit300.eBay Listing “Feature Plus” fees301.eBay listing fees302.Education assistance – requires written plan303.Educational supplies (books)304.Educational CDs305.Educational Gifts306.Educational tapes307.Educational travel308.Educator expenses up to 250309.Elance Account Set-up FeesCopyright 2010, Smart Business Series. All Rights Reserved.Page 10 of 32

DESCRIPTION310.Elance Contractor fees311.Elastic hosiery312.Embezzlement loss not covered by insurance313.Emergency power generator314.Employee benefits315.Employee's Pay316.Employees’ welfare expenses317.Employer-provided child care facilities318.Endorser’s loss319.Energy conservation subsidies paid by public utilities320.Energy efficient home credit321.Engineering costs322.Enhanced oil recovery credit323.Entertainment (with clients)324.Entertainment facilities and club dues325.Environmental Impact Studies326.Environmental Cleanup costs327.Equipment abandoned328.Equipment purchases – may require capitalization and depreciation329.Equipment repairs330.Equipment, minor replacements331.Escrow fees332.Estate tax deduction on income in respect of a decedent333.Excise tax334.Exercise ball335.Exercise equipment for company on-site gym336.Exhibits and displays, to publicize your products337.Experimental and research expenses338.Expert Witness fees339.Extension cord340.Extracting Teeth341.EyeglassesCopyright 2010, Smart Business Series. All Rights Reserved.Page 11 of 32

DESCRIPTION342.Factoring of accounts receivable343.Factory overhead344.Fans345.Fan mail expenses346.Farming equipment347.Farming-related tax credits348.Fax Machine349.Fax machine supplies350.Federal Employees' Compensation Act costs351.Federal income tax refunds352.Federal Social Security tax353.FedEx delivery costs354.Fees for financial advice355.Fees for passports necessary while traveling on business356.Fees to accountants357.Fees to agents358.Fees to attorneys359.Fees to brokers360.Fees to investment counsel361.Fees to computer specialists362.Fees to technicians363.Fencing for rental and office property364.Feng Shui service365.Filing cabinets366.Filters367.Fire Extinguisher368.Fire loss369.Fireproof cabinets370.First aid kit371.Fixtures372.Flexible spending arrangements373.Floor models and displaysCopyright 2010, Smart Business Series. All Rights Reserved.Page 12 of 32