I think you can, but most people take the standard deduction every year (which is supposed to represent these things) rather than calculate the itemized deduction with receipts.
I’ve itemized a bunch of times and you were pretty limited in what you could deduct. If you have a mortgage you can deduct the interest but not the payments. And before 2020 you deduct a portion of your household expenses if you had a home office.
But to a business those are all operating expenses and businesses only pay tax on profits.
It would be so awesome if I could deduct food, housing, and utilities from my income for tax purposes.
I think you can, but most people take the standard deduction every year (which is supposed to represent these things) rather than calculate the itemized deduction with receipts.
I’ve itemized a bunch of times and you were pretty limited in what you could deduct. If you have a mortgage you can deduct the interest but not the payments. And before 2020 you deduct a portion of your household expenses if you had a home office.
But to a business those are all operating expenses and businesses only pay tax on profits.
That’s such garbage. Corporate lobbying should have never been made legal.