What expenditures are tax-deductible?
( Top ) In general, all expenses incurred to start and operate your business will be tax-deductible. Applicable tax laws and regulations of the federal Internal Revenue Service and the Minnesota Department of Revenue apply to the timing of these deductions. For example, there are special rules on deducting start-up costs, use of a home office, vehicle expenses, and the cost of business meals and entertainment. The Internal Revenue Service and the Minnesota Department of Revenue offer information at their respective websites, and in print form. Questions can also be directed to the IRS by calling 1-800-829-1040 or the Minnesota Department of Revenue at 651-282-5225. Your accountant or tax advisor can also help identify deductible expenses.
