The Importance of Being Honest With Yourself

You can take any expense that's ordinary and necessary to your, whatever it is you're doing. The expense has to be ordinary in your trade or business and also necessary. So for example, let's say I'm a dentist and I am a dental practice. Is it ordinary for me to need a vehicle to drive back and forth from my house to my practice? Of course. Is it necessary for me to needs a $150,000 car? Maybe not. You have to be honest with yourself.