As a small business owner (if you haven’t done so already) it’s time to gather all of your potential tax deductible items purchased in 2014. (Don't forget to consult with a professional)
Please find below a list of some potential tax-deductible items for your business:
- Accounting fees
- Advertising
- Auto expenses
- Bad debts that you cannot collect
- Banking fees
- Board meetings
- Building repairs and maintenance
- Business association membership dues
- Business travel
- Charitable deductions made for a business purpose
- Cleaning/janitorial services
- Collection Expenses
- Commissions to outside parties
- Computers and tech supplies
- Consulting fees
- Continuing education for yourself (to improve skills or maintain licensing )
- Conventions and trade shows
- Costs of goods sold
- Credit card convenience fees
- Depreciation
- Dining during business travel
- Discounts to customers
- Education and training for employees
- Employee wages
- Entertainment for customers and clients
- Equipment/Equipment repairs
- Franchise fees
- Freight or shipping costs
- Furniture or fixtures
- Gifts for customers (Limit: $25 deduction for each)
- Health insurance
- Home office
- Interest
- Internet hosting and services
- Investment advice and fees
- Legal fees
- License fees
- Losses due to theft
- Management fees
- Materials
- Maintenance
- Medical expenses (with plan)
- Mortgage interest on business property
- Moving
- Newspapers and magazines
- Office supplies and expenses
- Outside services
- Payroll taxes (for employees, including Social Security, Medicare taxes and unemployment taxes)
- Parking & tolls
- Pension plans
- Postage
- Publicity
- Prizes for contests
- Real estate-related expenses
- Rebates on sales
- Rent
- Research and development
- Retirement plans
- Royalties
- Safe-deposit box
- Safe
- Software and online services
- Storage rental
- Subcontractors
- Taxes
- Telephone
- Utilities
- Website design
- Workers' compensation insurance
No comments:
Post a Comment