Hi, it’s Tom Choisnet, enrolled agent again.
We are going to talk about the generalities of business expenses because it can help you
expand your thinking as to what might be deductible for you. The definition of business expenses,
the key is ordinary and necessary as to the facts and circumstances regarding your business,
those items that are appropriate and customary and usual to your business. They even add
in the other term common and accepted so just about anything that you spend that you do
for your business is probably going to be deductible. There are a lot of restrictions
in different areas of the law, but in gathering your material, be liberal with yourself, we
will tell you what you can’t do. Thank you, Tom Choisnet.