Taxes Being self-employed, what sort of deductions can I take? To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your
Are You Setting Up A Business? Many people are confused about the different types of company structures and how it will ultimately affect their taxes. Below, we’ll breakdown some of the basic types of corporation structures, and list some of their benefits and drawbacks.