Is Books (Business-Related) Tax Deductible for Your Business?

Yes, books (business-related) is generally tax deductible for self-employed individuals, freelancers, and small business owners. The IRS allows you to deduct ordinary and necessary business expenses, and books (business-related) typically qualifies when used for legitimate business purposes.

Key Rules for Deducting Books (Business-Related)

Professional journals, technical manuals, and books related to business strategy or your specific trade are deductible.

Requirements to Claim This Deduction

• Must be related to your business/trade
• Keep receipts

How to Document Books (Business-Related) for Tax Purposes

Proper documentation is critical for any business deduction. For books (business-related), you should:

• Keep all receipts and invoices showing the amount paid
• Record the date of the expense and the business purpose
• If mixed-use, maintain a log showing business vs. personal usage
• Store records for at least 3 years (7 years for major purchases)

Source: IRS Publication 535. This information is for educational purposes only. Consult a qualified tax professional for advice specific to your situation.