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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