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Are business expenses tax deductible?
Yes, business expenses are generally tax-deductible. However, there are some caveats. For example, expenses must be ordinary and necessary to qualify. Additionally, you can only deduct the portion of an expense that is related to your business – so if you own a computer that you use for both personal and business purposes, you can only deduct the portion of the expense that is attributable to your business use.
Of course, as with anything related to taxes, it’s always best to speak with a tax professional to get specific guidance on what expenses may or may not be deductible for your particular situation.
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