I                                                                     
* Improvements, provided they are minor 
* Insurance premiums paid                                                                         
* Interest on loans of all kinds for business purposes, such as:      
a) On loans                                                 
b) On notes                                                 
c) On mortgages                                            
d) On bonds                                                 
e) On tax deficiencies                                                               
f) On installments payments of auto, furniture, etc.
g) On margin account with brokers
h) Bank discount on note is deductible as interest
* Inventory loss due to damages
* Investment counsel fees
                                                                        
L                                                                    
* Lawsuit expenses                                    
* Legal costs
a) In defense of your business
b) In settlement of cases
c) Payment of damages
* License fees
* Lighting                                                                       
* Living quarter furnished employees for business benefit                        
* Lobbying costs                                                                 
* Losses, deductible if connected with your business or profession, such as:                                                                    
a) Abandoned

property                                                 
b) Accounts receivable                                                
c) Auto damage caused by fire, theft, heat, storm, etc.               
d) Bad debts                                                         
e) Banks closed                                                       
f) Bonds                                                                                                                            
g) Buildings — damaged                                                                                   
h) Burglary
i) Business ventures
j) Forced sale or exchange
k) Forfeitures
l) Freezing
m) Good will
n) Loans not collectable
o) Theft
p) Transactions entered into for profits

M
* Maintenance of business property
* Maintenance of office, store, warehouse, showroom, etc.
* Maintenance of rented premises
* Management costs
* Materials
* Meals, subject to limitation
* Membership dues
* Merchandise
* Messenger service
* Moving costs
* Musician expenses

N
* Net operating loss — may be carried back to previous year’s income
* Newspapers

O
* Office expenses including:
a) Wages
b) Supplies
c) Towel service
d) Heating and lighting
e) Telephones and telegraph
f) Repairs
g) Refurnishing, minor items
h) Decorating
i) Painting
* Office rent
* Office stationary

Drew Miles is founder of financial education company Pathfinder Business Strategies, LLC. Formerly a New York attorney, he now specializes in tax saving strategies and entity structuring. Visit www.save10kintaxes.com to learn more.