1: Tax Advantages Business Deductions. To qualify as business deductions, expenses must be reasonable and necessary. Taxpayers are required to keep accurate books and records. The records should be complete enough to include types and sources of income, gains, losses, costs, expenses, and substantiation for tax deductions. Your records should include items such as bank statements, cancelled checks, receipts or invoices, credit card statements, diaries and logs. Here are some examples of w

Originally posted 2009-08-11 02:08:54. Republished by Blog Post Promoter