J.K. Lasser's Small Business Taxes 2013: Your Complete Guide to a Better Bottom Line

CHAPTER 22

Miscellaneous Business Deductions

Alert

At the time this book was printed, Congress had not extended numerous breaks for 2012 that had expired at the end of 2011. Check the online supplement in February 2013 at www.jklasser.com or www.barbaraweltman.com to see whether these breaks apply for 2012 returns.

Some miscellaneous business items defy classification. Still, you may be able to deduct them.

In this chapter you will learn about:

• Other business expenses in general
• Job-seeking expenses
• Moving expenses
• Educational expenses
• Charitable contributions made by your business
• Licenses and permits
• Dues and subscriptions
• Legal and professional fees
• Bank and merchant fees
• Supplies, materials, and office expenses
• Uniforms
• Insurance
• Commissions
• Payments to directors and independent contractors
• Penalties, fines, and damages
• Meal costs for day-care providers
• Expenses of disabled persons
• The dividends-received deduction
• Other expenses
• Where to deduct miscellaneous business expenses

Some of these deductions apply only to individuals; others apply only to corporations. Review all of the categories to see which deductions may apply to you. Checklists of deductible and nondeductible expenses are found in (see Table 22.3, page 466).

For more information on other business expenses, see IRS Publication 535, Business Expenses.