Upon completion of this course, you should be able to: Recognize the types of business expenses are deducted from gross income and which types are deducted from adjusted gross income. Identify requirements for an expenditure to be deductible as a trade or business expense. Identify which types of business expenses may be deducted by employees and by self-employed individuals. Recognize what it means to expense property and what types of property may be expensed. Recognize when business owners and employees may deduct expenses for the business use of their home.