Most of us have heard of a tax write off or of writing off an expense, but what exactly does that mean? It does not mean that you get that good or service for free. Instead, it means that the value of that good or service is deducted from your taxable income.
People who own their own business will be able to advantage of many tax write offs. Any time that they purchase business equipment or pay for a service that relates to their business, they get to write off that expense.