Deductions

Question 1

Personal Expenses deducted as Business expenses

Answer 1

• Travel
• Gifts (up to $25 for business gifts)
• Meals (50% deductible)
• Transportation

Question 2

Non-Deductible Personal Expenses

Answer 2

• Political contributions
• Lobbying expenses
• Commuting expenses
• Gifts over $25
• Travel expense for extra travelers
• Penalties and fines you pay when you break the law