IRS Publication 535 (Business Expenses)

Search Dictionary

Definition of 'IRS Publication 535 (Business Expenses)'

IRS Publication 535 (Business Expenses) is an Internal Revenue Service (IRS) publication that provides information on the types of expenses that businesses can deduct from their taxes. The publication also includes information on how to calculate the amount of each deduction and how to claim the deduction on a tax return.

Publication 535 is divided into several sections, each of which covers a different type of business expense. The sections include:

* Travel and entertainment expenses
* Meal and entertainment expenses
* Automobile expenses
* Home office expenses
* Moving expenses
* Education expenses
* Charitable contributions
* Bad debts
* Casualty and theft losses
* Other business expenses

The publication also includes a section on recordkeeping, which is important for businesses to keep track of their expenses and to be able to substantiate their deductions if they are audited by the IRS.

Publication 535 is an important resource for businesses, as it provides information on the types of expenses that can be deducted and how to calculate and claim the deductions. Businesses should consult with a tax professional to determine if they are eligible for any of the deductions listed in Publication 535.

In addition to Publication 535, the IRS also publishes a number of other publications that provide information on taxes for businesses. These publications include:

* IRS Publication 334 (Tax Guide for Small Business)
* IRS Publication 505 (Tax Withholding and Estimated Tax)
* IRS Publication 583 (Starting a Business and Keeping Records)
* IRS Publication 587 (Business Use of Your Home)

Businesses should also consult with a tax professional to get help with their taxes. A tax professional can help businesses understand their tax obligations and ensure that they are filing their taxes correctly.

Do you have a trading or investing definition for our dictionary? Click the Create Definition link to add your own definition. You will earn 150 bonus reputation points for each definition that is accepted.

Is this definition wrong? Let us know by posting to the forum and we will correct it.