While you won’t get a deduction for the value of your time or services when volunteering, any purchases made to benefit an organization can be deducted if they’re not reimbursed. Keep a record of items you buy
Who can spend for the company How much they can spend What they can spend money on How to document expenses When they’ll get reimbursed How they’ll get reimbursed What happens when expenses aren’t authorized How to create an expense reimbursement policy An expense reimbursement plan is best...
5. Work while you travel for business. If you have some downtime on a long flight or train ride, consider using the focused quiet time to get ahead on work. You may not have all the resources you need, but if you can take care of backlogged work before you arrive, it may reduce ...
As you can imagine, your small business expenses are largely ordinary and necessary for your industry, so the amount of your deductible expenses is quite high. Seven of the most common deductible business expenses are: Mileage and vehicle expenses Entertainment expenses Rent and utilities Marketing...