Businesses get taxed on their income minus any business expenses and other deductions. If you're in business, including self employed or working as a contractor, you need to keep records of your expenses and income and understand what types of costs count as business expenses.
You can claim some expenses related to rental income and property. In some cases you can claim expenses related to research and development.
Rental income expense deductions
If you are not in business, there are some expenses you can claim against your income.
