I own my own business. Is there a list of business expenses that I can use as a reference to determine what to write-off against my business income?

1. Advertising
2. Bad debts
3. Bank fees
4. Business use of the home (see more details related to Home Office Deduction)
5. Car and truck expenses
6. Depreciation
7. Dues paid to business organizations
8. Education expenses related to the business
9. Employees' pay
10. Insurance
11. Interest
12. Legal and professional fees
13. Licenses and regulatory fees
14. Moving expenses
15. Pension plan payments
16. Rent expenses
17. Repairs of business property
18. Subscriptions to business-related publications
19. Supplies and materials
20. Taxes
21. Telephone
22. Travel
23. Meals and entertainment
24. Utilities directly related to business activities

Please note: As a general rule any "ordinary and necessary" expense you pay in order to operate a business and earn your business income is a valid business expense. But whether or not an expense is ordinary and necessary depends on what the business does. A fashion model, for example, may have clothing and make-up as a valid business expenses. An accountant, on the other hand, would have a hard time justifying this.

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