Business expenses

Tax preparing
Tax preparers can ask for detailed, itemized copies of your expenses before submitting the return. Any business should save this kind of records for about 7 to 10 years from the date of filing.

There are 2 kinds of expenses:
Ordinary - means that most other self-employed taxpayers who work in your same business or trade also commonly pay for these things.
necessary - means that they assist you in doing business and, in fact, you might not be able to do business if you did not make the expenditure.

List of most common fully deductible business expenses:

• Accounting fees 
• Advertising 
• Bank charges 
• Commissions and sales expenses 
• Consultation expenses 
• Continuing professional education expenses 
• Contract labor costs 
• Credit and collection fees 
• Delivery charges 
• Dues and subscriptions 
• Employee benefit programs 
• Equipment rentals 
• Factory expenses 
• Insurance 
• Interest paid 
• Internet subscriptions, domain names, and hosting 
• Laundry 
• Legal fees 
• Licenses 
• Maintenance and repairs 
• Office expenses and supplies 
• Pension and profit-sharing plans 
• Postage 
• Printing and copying expenses 
• Professional development and training fees 
• Professional fees 
• Promotion 
• Rent 
• Salaries, wages, and other compensation 
• Security 
• Small tools and equipment 
• Software 
• Supplies 
• Telephone 
• Trade discounts 
• Travel 
• Utilities 

Then there are expenditures for which you can only claim a percentage.