Business

15 Items You Could Be Deducting from Your Taxes

taxes

Starting and managing a company is hard work, especially when you're new to the business world. A vast majority of entrepreneurs tend to try and cut back on as many costs as possible in the startup phase, including appointing an accountant to handle your finances. Read on to discover a list of items you could be deducting annually from your taxes.

50 Items You Could Be Deducting from Your Taxes
  1. Accounting fees
  2. Advertising
  3. Auto expenses - car lease and Uber/Lyft
  4. Banking Fees
  5. Continuing education for yourself and your employees to maintain licensing and improve skills
  6. Credit card convenience fees
  7. Dining and office food
  8. Health insurance and Health savings account
  9. Losses incurred by theft
  10. Parking and tolls
  11. prizes for giveaways and contests
  12. Social media advertising
  13. Video and camera equipment for business photography and videography needs
  14. Website design
  15. Software and online services

A reputable certified public accountant can help you go through all of your expenses and advise you on the costs you can deduct from your taxes. You may be surprised how many more items are deductible than you were aware of, and your accountant's services are deductible! Which expenses were you shocked to find out are tax deductible? Tweet me @lorenridinger.