Income Tax Tips & Information - Income Tax Blog - Leave a Message Deductible Compensation Income Tax Blog > Income Tax Tips > Deductible Compensation Deductible Compensation - Tax Deduction Tips Compensation paid to employees can take many forms. These deductible compensations include salary, wages, bonuses for services performed, vacation paid, sick pay, fringe benefits, whether or not they are tax-free to your employee.   To be deductible, compensation  must be an ordinary and necessary business expense, payment must be directly connected to the conduct of your business, the compensation must be reasonable, and the payment must be for services actually performed.   Most of these compensations are fully deductible. Comments about this topic (1) · RE: Deductible compensation · ADD a comment | Blog | Forum Related Income Tax Blog Resources: · Most Common Advertising Costs · Depreciation Expenses · Travel and Entertainment Expenses · Deductible Renting or Leasing Costs · Tax Resources for Home Office   GOT A TAX TIP?     POST IT HERE! Subject » Name » Email » Code »   <<

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