Which of the following expenses can potentially be deducted on Schedule C?

The deduction of business-related travel expenses on Schedule C is appropriate because these costs are directly tied to the operation of a business. When a self-employed individual incurs expenses while traveling for business purposes, such as transportation, lodging, and meals, these can be deducted to reduce taxable income. The IRS allows this deduction as it is deemed necessary and ordinary for conducting business operations.

In contrast, personal living expenses are not deductible on Schedule C because they do not relate to the business operations. Health insurance premiums, while potentially deductible under some circumstances, typically fall outside the Schedule C deductions if they pertain to dependents not involved in the business. Charitable donations are also not included on Schedule C since they have specific provisions and are typically deducted on Schedule A for itemizers. Thus, business-related travel expenses are the only option that fits the criteria for deduction on Schedule C, emphasizing their importance in accurately reflecting a self-employed individual's taxable income and legitimate business costs.