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Business Expenses Part 4 of 4
Other Types of Business Expenses
Employees’ Pay – You can generally deduct the pay you give your employees for the services they perform for your business.
Retirement Plans – Retirement plans are savings plans that offer you tax advantages to set aside money for your own, and your employees’, retirement.
Rent Expense – Rent is any amount you pay for the use of property you do not own. In general, you can deduct rent as an expense only if the rent is for property you use in your trade or business. If you have or will receive equity in or title to the property, the rent is not deductible.
Interest – Business interest expense is an amount charged for the use of money you borrowed for business activities.
Taxes – You can deduct various federal, state, local, and foreign taxes directly attributable to your trade or business as business expenses.
Insurance – Generally, you can deduct the ordinary and necessary cost of insurance as a business expense, if it is for your trade, business, or profession.
This Instant Forex Profit list is not all inclusive of the types of business expenses that you can deduct. For additional information, refer to Business Expenses.