The Big List of Small Business Tax Deductions
This is a list that every small business owner needs to be familiar with. Keeping track of all of these deductions will help you lower your tax liability each year. This list will help you find personal expenses that you incur everyday that you can apply to your business to lower your taxable income.
Click the link on each deduction to learn how you can apply each deduction in your business.
As always, make sure you meet with a CPA to ensure that you are compliant and paying the least amount of tax possible.
Tax Write-Offs for Small Businesses
- All necessary business expenses
- Amortization
- Annual Meetings
- Auto Expenses
- Bad Debts (if previously income)
- Banking Fees
- Board Meetings
- Building Repairs & Maintenance
- Cafeteria Plan (Requires Plan)
- Casualty Damange
- Charitable Deductions
- Child Care (Requires Plan)
- Cleaning/Janitorial
- Collection Expenses
- Commissions to Outside Parties
- Computers and Tech Supplies
- Consulting Fees
- Continuing Education
- Conventions & Trade Shows
- Cost of Goods Sold
- Depletion
- Depreciation
- Dining
- Discounts to Customers
- Dues (Professional or Club)
- Education Assistance (Needs Plan)
- Embezzlement Losses
- Equipment
- Exhibits & Publicity
- Family Members on Payroll
- Freight & Shipping Costs
- Furniture & Fixtures
- Gifts (within limits)
- Group Insurance (if qualifying)
- Health Insurance
- Home Office
- Interest
- License Fees
- Lobbying (if qualifying)
- Magazines
- Management Fees
- Materials
- Maintenance
- Meals & Entertainment (Some)
- Medical Expenses (with plan)
- Membership Dues
- Moving
- Office Supplies & Expenses
- Outside Services
- Packaging
- Payroll Taxes for Employees
- Pension Plans
- Periodicals
- Prizes for Contests
- Publicity
- Real Estate Related Expenses
- Rent
- Repairs
- Research & Development
- Retirement Plans
- Royalties
- Safe
- Storage Rental
- Subcontractors
- Taxes
- Telephone
- Theft
- Tolls
- Travel
- Unemployment Compensation
- Utilities
- Vacation (if qualifying)
- Vehicle
- Website Design
- Workers' Compensation
Get More Help
At Windstone Financial, our team of CPAs and accountants has extensive experience maximizing tax deductions for small businesses. If you think you are paying too much in taxes, click the button below to schedule a call with a CPA.
