Business Expense Deduction

Business Expense Deduction

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Business Expense Deduction

Business Expense Deduction definition:  Business Expense Deduction reduce taxable income for business-related expenses. Deductible expenses include transportation, lodging, meals, and car rentals when travelling for business purposes.  Home offices or cars that are used for both personal and business purposes are only deductible to the extent that they are used for business (as a percentage).  To be considered deductible, the expense must be both ordinary and necessary for your type of business.

Download our free Family Office Report to learn more about the family office industry.

Read more Family Office Definitions

Tags: What is business expense deduction?, business expense deduction definition, business expense deduction family office, business expense deduction term, define business expense deduction, business expense deduction wealth management, business expense deduction multi-family office, business expense deduction single family office

Leave Your Response

* Name, Email, Comment are Required

We run the Family Offices Group, the #1 largest family office association with 84,000+ global members. We offer live events, a bestselling book, Webinars, a family office database, and a family office training & certificate program called the Qualified Family Office Professional (QFOP). To get to know us please watch this 2 minute video, and contact us any time during pacific business hours by calling (212) 729-5067 or emailing us at

Free Family Office Report (PDF)

Contact Details for 1,000 Family Offices in Excel