Use this form to summarize and organize your tax deductible business expenses. In order to deduct expenses in your trade or business, you must show that the expenses are “ordinary and necessary.” An ordinary expense is one which is customary in your particular line of work. A necessary expense is one which is appropriate, but not necessarily essential in your business. The application of these terms to you relies heavily on the “facts and circumstances” of your unique situations. A business expense deduction must also take into account any reimbursement you have received, or could have received for that expense from your employer or another source.
The information provided is an abbreviated summary of the rules for business expenses applicable to real estate professional. For additional details as to specific business expenses, the records required, and the various governmental regulations. Please contact one of our staff.
Auto Travel
- Continuing Education (mi)
- Field Trips (mi)
- School – Pickup & Delivery (mi)
- Shopping – Food & Supplies (mi)
- Parking
- Tolls
- Other
Supplies & Expenses
- Advertising
- Arts & Crafts Materials
- Bond
- Books – Children’s
- Bottles – Baby
- Child Proofing Devices
- Cleaning Supplies
- Continuing Education (care provider)
- CPR Training
- Diapers
- Educational Toys
- First Aid Supplies
- Food
- Formula
- Insurance – Business
- Laundry
- Laundry Supplies
- Legal & Professional Services
- License
- Office Supplies
- Paper
- Paper – Toilet
- Party Supplies
- Payroll
- Repairs
- Replacements
- Tax – Business
- Tax – Payroll
- Tax Preparation
- Telephone
- Tickets, Fees, etc.- Field Trips
- Toys
- Video Rentals
- Other
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Capital Purchases
- Car Seats
- Cribs
- High Chairs
- Jungle Gym
- Slides
- Swings
- Other
- Allocated Expenses Items
- Dishwasher
- Dryer
- Fencing
- Refrigerator
- Television
- VCR
- Washer
- Other
Business use of Home
- Total Square Feet of Home
- Business Area of Home
- Business Hours (total for year)
- Home Mortgage Interest
- Property Taxes
- Insurance
- Rents
Allocated Expenses
- Cleaning Services
- Gardener
- Maintenance
- Painting
- Pool Service
- Pool Supplies
- Repairs – Exterior
- Repairs – Interior
- Repairs – Yard, Fence, etc.
- Trash service
- Utilities – Cable, Electric,
- Gas, Water, other
- Other
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