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Which of the following is not a deductible expense for tax saving purpose


Only expenses that are related to carrying on a trade or business are deductible: Personal expenses are not deductible. In addition, these expenses must be ...

Which of the following are not deductible expenses for tax purposes?

Some of the more common deductions include those for mortgage interest, retirement plan contributions, HSA contributions, student loan interest, charitable contributions, medical and dental expenses, gambling losses, and state and local taxes.


However, the Internal Revenue Service considers rent and utilities as personal expenses, which are typically not deductible items on your income tax return. Can you write off car insurance on taxes? Car insurance is tax deductible as part of a list of expenses for certain individuals. … While you can deduct the cost of your car insurance premiums, they are just one of the many items that you can include as part of using the “actual car expenses” method.




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