What are some common business tax deductions I can take?
An example of an AI chatbot conversation about business tax deductions for small businesses.
What are some common business tax deductions I can take?
Common business tax deductions include expenses for office supplies, travel, meals, and home office costs.
Can I deduct my home office expenses?
Yes, if you use part of your home exclusively for business, you can deduct related expenses.
What about vehicle expenses? Can I deduct those?
Yes, you can deduct vehicle expenses if you use your car for business purposes. You can choose between the standard mileage rate or actual expenses.
Are there any limits on how much I can deduct?
Yes, there are limits on certain deductions, like meals and entertainment, which are typically 50% deductible.
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