The IRS actually says that the business expense must be “ordinary and necessary.” On its website, the IRS states, “An ordinary expense is one that is common and accepted in your trade or business. Yet, not all expenses are tax-deductible. Any reduction to your taxable income reduces your tax liabilities. So what are deductions? Well, a deduction is basically any expense that reduces your total taxable income. When I talk about tax write offs, I’m talking about tax deductions.
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