Business Deductions
- Amortization
- Business Losses and Net Operating Losses
- Car and Truck Expenses
- Day-Care Services
- Depreciating Business Property
- Depreciating Your Car
- Domestic Production Activities Deduction
- Health Insurance Deduction
- Home Office Deduction
- Meal and Entertainment Expenses
- Organizational Costs and Start-up Costs
- Qualified Plan Awards
- Schedule C Expenses
- Section 197 Intangibles
- Should You Sell or Trade in Your Car?
- Start-up Costs
- Travel Expenses
More Tax Topics
- Business Structures
- Hiring Workers
- Retirement
- Top Tax Myths
- Per Diem Rates - IRS Publication 1542 Oct 2011 for Travel Within the Continental U.S (for employers who pay a per diem allowance to employees)
Quick Links
Hot Topics
Need Some Deductions for 2011?
Don't overlook these!
Updated for 2011
Small Business Deductions: Schedule C Expenses
Expenses Listed on Schedule C
Tax Year 2011:
- Line 8: Advertising and promotion
- Line 9: Car and truck expenses
- Line 10: Commissions and fees
- Line 11: Contract labor
- Line 12: Depletion
- For certain oil, gas, mineral, and timber properties
- Line 13: Depreciation and section 179 expense deduction
- Line 14: Employee benefit programs
- Line 15: Insurance
- Line 16: Interest
- Mortgage (paid to banks, etc.)
- Other
- Line 17: Legal and professional Services
- Accounting, consulting fees, tax preparation for Schedule C and related schedules, etc.
- Line 18: Office expense
- Bottled water
- Janitorial service
- Other office services
- Line 19: Pension and profit-sharing plans
- Line 20: Rent or lease
- a. For vehicles, machinery, and equipment
- b. Other business property
- Use this line for amount paid for rent or lease of office space in a building.
- Line 21: Repairs and maintenance
- Line 22: Supplies
- Line 23: Taxes and licenses
- Line 24: Travel, meals, and entertainment
- a. Travel
- b. Deductible meals and entertainment (50% deductible)
- Line 25: Utilities
- electricity, water, telephone
- Line 26: Wages
- Line 27: Other expenses.
- Line 30: Home office deduction
- Complete Form 8829
Next:
Schedule C Expenses: Explanation of Certain Schedule C Expenses
Related Links
- Sole Proprietorships
- The Purpose of Schedule C
- Who Must File Schedule C?
- More Than One Business
- List of Schedule C Expenses
- Components of Schedule C
- Schedule C-Page 2, Part III: Cost of Goods Sold
- Part IV: Information on Your Vehicle
- Part V: Other Expenses
- Form 1040 Deductions
- Closing Your Sole Proprietorship
- Reopening Your Sole Proprietorship in a Later Year
- Closing Your Business When You Have Employees
Copyright © 2008-2012 Larry Villano. All rights reserved.