Week 17 Day 4 Action Items

Day 4

• [ ] Explore a list of common deductible business expenses.
• [ ] Review your business expenditures and identify potential deductible items.
• [ ] Understand the criteria that make an expense eligible for deduction.

Business Purpose Connection

Review your list of potential deductions from yesterday. Can you relate each deduction to support a business purpose? Having a connected business purpose for each deduction helps to substantiate the claimed deduction. List out a connected business purpose for each deduction you listed yesterday.

• Deduction 1 (What is the connected business purpose?)
• Deduction 2 (What is the connected business purpose?)
• Deduction 3 (What is the connected business purpose?)
• Deduction 4 (What is the connected business purpose?)
• Deduction 5 (What is the connected business purpose?)

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