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In such a situation, the related settlement payments may well be treated as deductible business expenses.
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Unless a car is used 100% for business, expenses aren't fully deductible.
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If you can make your principal residence your business home many of the non-deductible expenses of ordinary mortals will be deductible to you.
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You can run a business if some of your expenses are non-deductible, but only if you have very good margins relative to your non-deductible operating expenses.
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Regardless of whether you choose the standard mileage rate or actual car expenses, parking fees, tolls, interest and taxes are separately deductible for business, medical, moving and charitable purposes.
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This is because commuting expenses are not deductible and meals and lodging are deductible when you are away from your business home.
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When it comes to conventions, travel expenses for those inside North America are deductible if you can show that your attendance benefits your trade or business (those held outside North America are subject to special rules).
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