business deduction
- A tax reduction that can be claimed for costs or losses tied to activities conducted for business purposes or profit-earning intentions
- The accountant advised taking full advantage of the business deduction options to minimize tax liabilities.
- The increased costs of supplies can be considered a business deduction, reducing the company's taxable income.
- To justify the business deduction on her tax return, she kept detailed records of all her expenses related to her freelance work.
Provide Feedback
