Publication 535 - Introductory Material
This publication discusses common business expenses and explains what is and is not deductible. The general rules for deducting
business expenses
are discussed in the opening chapter. The chapters that follow cover specific expenses and list other publications and forms
you may need.
Comments and suggestions.
We welcome your comments about this publication and your suggestions for future editions.
You can write to us at the following address:
Internal Revenue Service
Business Forms and Publications Branch
SE:W:CAR:MP:T:B
1111 Constitution Ave. NW, IR-6526
Washington, DC 20224
We respond to many letters by telephone. Therefore, it would be helpful if you would include your daytime phone number,
including the area code, in
your correspondence.
You can email us at
*taxforms@irs.gov. (The asterisk must be included in the
address.) Please put “
Publications Comment” on the subject line. Although we cannot respond individually to each email, we do appreciate your
feedback and will consider your comments as we revise our tax products.
Ordering forms and publications.
Visit
www.irs.gov/formspubs
to download forms and publications, call 1-800-829-3676, or write to the address below and receive a response within 10 days
after your request is
received.
National Distribution Center
P.O. Box 8903
Bloomington, IL 61702-8903
Tax questions.
If you have a tax question, visit
www.irs.gov or call 1-800-829-4933. We cannot answer tax questions sent to
either of the addresses above.
The following items highlight some changes in the tax law for 2007. More information on changes in the tax law for 2007 can
be found in Publication
553, Highlights of 2007 Tax Changes.
Standard mileage rate. . The standard mileage rate for the cost of operating your car, van, pickup, or panel truck in 2007 is 48.5 cents a mile for
all business miles.
Self-employed health insurance deduction. Partners and more-than-2% shareholders in an S corporation may be able to claim this deduction when the policy is in the name
of the partner or
shareholder. See chapter 6.
Environmental cleanup costs. The election to deduct qualified environmental cleanup costs expired for costs paid or incurred after December 31, 2007. See
chapter 7.
The following items highlight some changes in the tax law for 2008. More information on changes in the tax law for 2008 can
be found in Publication
553.
Standard mileage rate. The standard mileage rate for the cost of operating your car, van, pickup, or panel truck in 2008 is 50.5 cents a mile for
all business miles.
Marginal production of oil and gas. For tax years beginning after December 31, 2007, the temporary suspension of the taxable income limit on percentage depletion
from the marginal
production of oil and natural gas is scheduled to expire. See chapter 9.
IRS e-file (Electronic Filing)
You can file your tax returns electronically using an IRS e-file option. The benefits of IRS e-file include faster
refunds, increased accuracy, and acknowledgment of IRS receipt of your return. You can use one of the following IRS e-file options.
For details on these fast filing methods, see your income tax package.
Photographs of missing children. The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Photographs of
missing children
selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children
home by looking at the
photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child.
