A-Z Potential Tax-Deductible Items for Your Business

A-Z Potential Tax-Deductible Items for Your Business

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
  • Tasheena Womack

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Tasheena showed up to my workshop and breezed through like a breath of fresh air! Wow she put the cherry on top of an already awesome morning.

She kept our attention every minute she was there and left us with knowledge and motivation. We were in GO mode when she left. Exciting, informative, awesome!
I would have her back again and again. Peace and Blessings.

— Dianne Gill
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