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these are expenses which are deducted from the income of a business and reduce their amount of taxable income. for example, the cost of a renting a store will be deducted from a stores profit.

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15y ago

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What is allowable deductions?

Try the IRS website. IRS.GOV and type in "DEDUCTIONS" in their serach engine. You might want to be more specific about the deductions you are looking or, i.e. deductions for homeowners deductions for day care deductions for business etc....


What are legal tax deductions in the US?

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What tax deductions do you get when opening a new business?

There are many tax deductions available for new businesses. Some include home office deduction, travel, meals, entertainment, and gifts, and business use of your car. To see the many more deductions go to http://www.sba.gov/content/small-business-expenses-and-tax-deductions


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Try the IRS website. IRS.GOV and type in "DEDUCTIONS" in their serach engine. You might want to be more specific about the deductions you are looking or, i.e. deductions for homeowners deductions for day care deductions for business etc....


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How do below the line deductions affect the overall profitability of a business?

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Declaration of income exemptions and deductions claimed?

Deductions take many many forms and names. They depend on situations too and the type of income you have or how you earned it. Your question is entirely too broad to have any list or comprehensive answer. However, as a start: Try the IRS website. www. IRS.GOV and type in "DEDUCTIONS" in their search engine. You might want to be more specific about the deductions you are looking or, i.e. deductions for homeowners deductions for day care deductions for business deductions for travel deductions for investing deductions for medical etc, etc ....


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What are the tax deductions available for expenses incurred during a business trip?

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