Business Expenses

taxmap/pubs/p535-000.htm#TXMP6fa74268
Introduction

This publication discusses common business expenses and explains what is and is not deductible. The general rules for deducting business expenses are discussed in the opening chapter. The chapters that follow cover specific expenses and list other publications and forms you may need.

taxmap/pubs/p535-000.htm#TXMP51236875 Comments and suggestions.(p1)

We welcome your comments about this publication and your suggestions for future editions.

You can write to us at the following address:

Internal Revenue Service 
Business Forms and Publications Branch 
SE:W:CAR:MP:T:B 
1111 Constitution Ave. NW, IR–6526 
Washington, DC 20224

We respond to many letters by telephone. Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence.

You can email us at *taxforms@irs.gov. (The asterisk must be included in the address.) Please put "Publications Comment" on the subject line. Although we cannot respond individually to each email, we do appreciate your feedback and will consider your comments as we revise our tax products.

taxmap/pubs/p535-000.htm#TXMP0c15e625 Ordering forms and publications.(p1)

Visit www.irs.gov/formspubs to download forms and publications, call 1-800-829-3676, or write to the address below and receive a response within 10 days after your request is received.

 
National Distribution Center 
P.O. Box 8903 
Bloomington, IL 61702-8903

taxmap/pubs/p535-000.htm#TXMP75ba833d Tax questions.(p2)

If you have a tax question, visit www.irs.gov or call 1-800-829-4933. We cannot answer tax questions sent to either of the addresses above.

taxmap/pubs/p535-000.htm#TXMP323127ee What's New for 2007(p2)

The following items highlight some changes in the tax law for 2007. More information on changes in the tax law for 2007 can be found in Publication 553, Highlights of 2007 Tax Changes.

taxmap/pubs/p535-000.htm#TXMP6c3fb660
Standard mileage rate.(p2)

The standard mileage rate for the cost of operating your car, van, pickup, or panel truck in 2007 is 48.5 cents a mile for all business miles.

taxmap/pubs/p535-000.htm#TXMP2d8d03be
Self-employed health insurance deduction.(p2)

Partners and more-than-2% shareholders in an S corporation may be able to claim this deduction when the policy is in the name of the partner or shareholder. See chapter 6.

taxmap/pubs/p535-000.htm#TXMP20060453
Environmental cleanup costs.(p2)

The election to deduct qualified environmental cleanup costs expired for costs paid or incurred after December 31, 2007. See chapter 7.

taxmap/pubs/p535-000.htm#TXMP178f6989 What's New for 2008(p2)

The following items highlight some changes in the tax law for 2008. More information on changes in the tax law for 2008 can be found in Publication 553.

taxmap/pubs/p535-000.htm#TXMP12f8b39c
Standard mileage rate.(p2)

The standard mileage rate for the cost of operating your car, van, pickup, or panel truck in 2008 is 50.5 cents a mile for all business miles.

taxmap/pubs/p535-000.htm#TXMP093267fd
Marginal production of oil and gas.(p2)

For tax years beginning after December 31, 2007, the temporary suspension of the taxable income limit on percentage depletion from the marginal production of oil and natural gas is scheduled to expire. See chapter 9.

taxmap/pubs/p535-000.htm#TXMP078adca7 Reminders(p2)

You can file your tax returns electronically using an IRS e-file option. The benefits of IRS e-file include faster refunds, increased accuracy, and acknowledgment of IRS receipt of your return. You can use one of the following IRS e-file options.

• Use an authorized IRS e-file provider.
• Use a personal computer.
• Visit a Volunteer Income Tax Assistance (VITA) or Tax Counseling for the Elderly (TCE) site.

For details on these fast filing methods, see your income tax package.

taxmap/pubs/p535-000.htm#TXMP28e5e9aa
Photographs of missing children.(p2)

The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child.

Previous Page:  Publication 531 - Reporting Tip Income - How To Get Tax Help Next Page:  Publication 535 - Business Expenses - Deducting Business Expenses Use   to find additional occurrences of topic items.