known expenses
- Office/studio rent
- materials and equipment
- Telephone and Internet (business part)
- Travel and fuel (for business purposes)
- Business insurances
- wages of workers
- Advertising and marketing
- Professional expenses (CPA, attorney)
Rule
Recognized expense = expense incurred in the production of income. Private or mixed spending - only the business part is recognized.
Important Note: The information on this website is for general informational purposes only and does not constitute professional tax advice. Consult a qualified tax advisor before making financial decisions.