How to Make Business Deductions Out of Your Personal Expenses Part 6

<h2> Automobiles <h2/>

<p> The portion of your car that is used for business can also be written off.  There are two ways to do this.  It can either be done by actual expense or by percentage of use.  Gas costs, repair costs, and maintenance costs can all be deducted by percentage of use.  Mileage can also be logged and the write off can be taken by the amount of miles you travel.  If you take long business trips on a consistent basis this might be the most beneficial way to take the deduction.  Simply keep a mileage log in your car. <p/>

<h2> Business Gifts <h2/>

<p> Every single year a business can give gifts to both individuals and to other businesses.  When giving a gift to an individual the limit is 25 dollars per person per gift.  If giving a gift to another business there is no limit on the amount spent.  On the small side this gift could be a simple basket during the holidays, all the way up to an entire meal purchased for an organization. <p/>

<h2> Education and Seminars <h2/>

<p> The cost of education can be written off whether or not it pertains to your specific business.  These expenses can range from books and tapes, all the way up to the cost of an entire seminar.  When writing off a seminar don’t forget that the cost of transportation can also be taken as a deduction. <p/>

<p> These are a few of the many deductions available to your business.  To find out about other deductions such as travel, dry cleaning, and dependent care you can log onto pfbs.com. <p/>