Tax deductions are valid business expenses that you claim on your taxes. Claiming deductions saves you money by reducing your taxable income so you pay less in taxes to the government. the best part is that you are probably already paying for these expenses, you just need the right information to turn them into valid tax deductions. that's why we created the guide below.
The Definitive Guide to Common Tax Deductions Show Me How to Use This Guide Show Me How to Track These Deductions Õ Tweet
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Advertising & promotion Bad debts Bank fees & loan interest Casualty losses Charitable contributions Clothing Communication Education Equipment Gifts Hiring help Home office Insurance Licenses and dues Legal and professional fees Meals & entertainment Postage and mailing Publications Rent Repairs and maintenance Research Start-up expenses Supplies Taxes Transportation Travel Utilities Never deductible
Additional Deduction Information Learn What to Deduct Get the Travel Expense Pocket Guide (FREE) Business doesn’t always happen at the office. Make sure to get a copy of the travel expense pocket guide to protect you and your business while on the go. Get the Pocket Guide » Did you know that taxes are the number one expense for many people in the United States? As a business owner, are you aware that you are sitting on one of the best tax shelters available? One of the keys to taking advantage of this tax shelter is knowing more about how to use it properly. Arming yourself with some basic knowledge about business expense deductions and implementing a system to take advantage of them is one of the quickest ways to increase your bottom line by keeping your hard-earned money out of Uncle Sam’s hands. Unfortunately, most entrepreneurs don’t take the time to learn the fundamentals about tax deductions, because the U.S. tax code is a behemoth and most of the information discussing it is not very concise. That’s where the Plain English Deduction Guide comes in. Our resident tax attorney has spent years studying and practicing tax law and together we’ve spent countless hours boiling thousands of pages of tax law down to a single interactive guide that covers the most common tax deductions small businesses encounter on a daily basis.
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About Tax Receipts Tax Receipts was created to make the lives of entrepreneurs and small business owners easier by reducing the tax code, regulations, and case law related to business deductions down to actionable information. Learn more about Tax Receipts.