Monday, January 27, 2020

List of Things Business Owners Can Write-Off on Taxes

A tax write-off is an amount of money that can reduce a business owner's taxable income. Reducing taxable income will lover the amount of taxes for which the business is liable. In most cases, tax write-offs reduce a business's tax liability by a percentage rather than by a dollar amount. 

Things Business Owners Can Write-Off On Taxes 

Car, Vehicle, Education
Gas, Travel, Repairs
Utilities & Uniforms
Phone and Internet
Business Meetings
Accounting Services
Business Equipment
Rent for Office Space
Marketing & Advertising
Employer Salaries & Wages
Bank Fees & Interest on Loans

To find out other tax write-offs speak with a certified accountant. Keep in mind when writing off utilities that only the portion of the home used for business can be written off. 

I hope this helps you this tax season!!

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