So recordkeeping is critical. It helps to know what business expenses qualify. Meals and Entertainment Don't waste much energy building up expenses in this area unless you're prepared to do it right. This area is always a target of audits and is one of the most abused of all expenses. Contrary to what the IRS might like to have you believe, even if you don't sell anything to a potential client or prospect, you ARE entitled to the deduction.
Place make sure the receipt shows the name and address of the entertainment facility or restaurant.
Some parts of the country have toll roads. In other areas, you can't park without paying costly lot fees or feeding meters. Easy, just keep a diary or appointment book. Office in Home Deduction Taking this deduction can be like waving a red flag in front of a bull if you can avoid it, don't use it. Especially if you own your home and expect to sell it in the next couple of years.