Ty Young, Certified Tax Advisor
As a Main Street Certified Tax Advisor
I have dedicated a significant portion of my time to make sure that I am abreast of all of the tax strategies that are available to my clients. The IRS awards job creators. Whether you are a fortune 500 comany or a 1 personal operation, the IRS considers you a job creator. Therefore, you have access to significant tax deductions. See below how the IRS determines a deductible expense.
Ordinary and Necessary
To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your industry. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary.
This information is found in Publication 535, Business Expenses.
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