Tax deductible business expenses:
- Advertising and promotion
- Business meals
- Business insurance
- Bank fees
- Business use of your car
- Contract labor
- Depreciation
- Education (related to your business; includes books tailored to your industry and transportation expenses to and from classes, seminars, and workshops)
- Home office expenses
- Interest on business debts
- Legal and professional fees
- Moving expenses
- Rent expenses
- Salaries and benefits
- Taxes (e.g., state, payroll, personal property, real estate, sales, excise and fuel)
- Business licenses
- Telephone and internet expenses
- Travel expenses
- Personal tax deductions for business owners:
- Charitable contributions
- Child and dependent care expenses
- Retirement contributions
- Health care expenses
Want to find out if any of these apply to your business? Give us a call at 816-524-4949 or visit our website to schedule a free consultation.