What are the best business expenses I can deduct?
An example of an AI chatbot conversation about business expense deductions for tax purposes.
What are the best business expenses I can deduct?
You can deduct expenses like office supplies, travel costs, and employee salaries. Would you like details on any specific category?
Can I deduct my home office expenses?
Yes, if you use part of your home exclusively for business, you can deduct related expenses like utilities and rent.
What about meals and entertainment expenses?
You can deduct 50% of business-related meal expenses, but entertainment expenses are generally not deductible anymore.
Are there any limits on how much I can deduct?
Yes, some deductions have limits, like vehicle expenses and meals. It's best to keep detailed records and consult a tax professional.
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