03/09/2021
Many small business owners and freelancers leave money on the table by failing to claim the proper tax deductions.
Most expenses incurred in business are deductible, while most income is taxable (there are, of course some exceptions). can help you reduce your tax obligations smartly and keep more of your money working for you by giving you options on when and to what extent you can claim certain deductions or report income.
Make smart tax elections
1. Home Office
If you use some part of your home exclusively and regularly for business, you may be able to take deductions for expenses related to your home office like utilities.
2. Business Travel & Meals
If you travel out of town for business purposes, some or all of the costs may be deductible as a business expense. The cost of plane, train, bus, taxi fare or car rental is deductible. So are accommodations and meals.
3. Website Expenses
If you have a business website, costs associated with creating and maintaining it are deductible. They include fees for hosting, domain name, website design, software or licensing fees for images you use.
4. Advertising
Most forms of advertising expenses are tax-deductible, including flyers, mailers, print ads and business cards. Fees that you pay Yelp or Google for advertising associated with your online presence are also deductible.
There are so many more, let our experts who know the tax laws and codes help you to find those legal deductions.
