Where can I find a list of small business tax deductions?
I own an LLC that does multiple ventures in michigan. Any information or links of all possible deductions would be wonderful. Thanks. ...
I own an LLC that does multiple ventures in michigan. Any information or links of all possible deductions would be wonderful. Thanks.
As bostonianinmo said, anything that is "both ordinary and necessary." According to IRS Pub 535 (linked below):
"An ordinary expense is one that is common and accepted in your industry. A necessary expense is one that is helpful and appropriate for your trade or business."
Common sense should tell you whether a particular expense qualifies. If you want more info, Pub 535 (while NOT an exhaustive list) gives a lot of examples of what is and isn’t a legitimate business expense.
Any expense that is reasonable and necessary in the production of income is a legitimate business expense. You don’t need a list.
But, if you really want to see one, look up Publication 334 from the IRS website.