businesses having the ability to deduct more expenses than what the individuals           can do.

It is well known sentence that “You have to spend the money to make the money.” It will help to grow a business, and also money you spend is deducted from business income for determining the taxable income.

Capital Expenses

Cost of goods sold expanses cover the following expanses

·         The cost of products or raw materials, including freight

·         Storage

·         Direct labor costs (including contributions to pensions or annuity plans) for workers who produce the products

·         Factory overhead

Other expanses

• Employees’ Pay .
• Retirement Plans
• Rent Expense
• Interest.
• Taxes

Above mention expanses that business can deduct while calculating income tax so we can defiantly say that businesses having the ability to deduct more expenses than what the individuals    can do

What expenses can businesses deduct that you feel would be beneficial for individual taxpayers to deduct as well?

Answer:

Capital Expenses

Rent Expense

Interest.

Taxes Etc,