What are deductible business expenses?
An example of an AI chatbot conversation about deductible business expenses.
What are deductible business expenses?
Deductible business expenses are costs that can be subtracted from your business income to reduce taxable income.
Can you give me some examples of these expenses?
Sure! Examples include office supplies, travel expenses, and employee wages.
Are there any expenses that are not deductible?
Yes, personal expenses and certain fines or penalties are generally not deductible.
How do I keep track of these expenses for tax purposes?
You can use accounting software, keep receipts, and maintain a detailed log of all business-related expenses.
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