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In General, any purchase must be a necessary and reasonable expense which is helpful and appropriate for your trade or business to be tax deductible. However, if the expense is related to business and is partly for business and partly for personal purposes, divide the total cost between the business and personal parts. You can deduct the business part on Schedule C of IRS Form 1040.
Dixon is one of the best tax experts from the United States. He has an experience of 28 years in the field of corporate finance. Before FlyFin, Dixon had served as the Tax Head at KPMG, NJ.