Advertising. Your business can deduct all of the cost of advertising as a business expense.
Automobile expenses. For 2007, deductions for vehicles driven for business can be claimed at 48.5 cents per mile, plus parking and tolls. Alternatively, the actual cost of operating the vehicle, including fuel, repairs and depreciation can be claimed.
Bad debts. If your business loaned money to someone and determined in 2007 that it would not be repaid, the loss is deductible against business income.
Business gifts. The deductible limit on business gifts is $25 a year to any one customer or client.
Credit card fees. Fees imposed by credit card companies to process charge card sales can be deducted.
Holiday parties. Your business can deduct the cost of holiday parties for employees.
Meals and entertainment. Fifty percent of the cost of meals and entertainment for clients is deductible, if you (or one of your employees) is present, the meal is directly related to or associated with the active conduct of your business and the meal is not lavish or extravagant.
There are a lot more than this so if you are truely interested check out the link provided above for more information on business expense tax deductions.
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