- Accounting Fees
- Advertising and Marketing
- Banking Fees
- Building Repairs and Maintenance
- Business Travel
- Car Expenses
- Charitable Deductions made for a Business Purpose
- Cleaning/Janitorial Service
- Consulting Fees
- Credit Card Convenience Fees
- Continuing Education for Yourself for maintaining License and Improving Skills
- Education and Training for Your Employees
- Employees Wages
- Employee Benefits
- Health Insurance
- Home Office (see #4 in link)
- Payroll Taxes for Employees
- Permits and Fees
- Startup Expenses
- Website Design
- Insurance premiums for credit, liability, malpractice, worker’s comp, and other insurance
Tip: Just because you did not receive a receipt does not mean that you cannot deduct the cost. You document it the same way.
Remember, it is always important to consult a professional before making any decisions on your tax deductions. Some rules may not apply to your specific business and can get confusing trying to decide what does pertain to you. Founder’s CPA can help you with your small business tax deduction questions. See our Tax Strategy Service here.
Documentation is the key to a successful deduction strategy. So save those receipts in an organized way like scanning them into computer files. Also, always note the business reason for the purchase.