If you’re self employed, an entrepreneur, or a business owner, this applies to you.
As you anticipate what you may owe this tax season, here are some of our favorite deductions to help ease your mind.
Meals and happy hours are deductible expenses if the purpose is business related, you pay the table’s bill, and it is an ordinary and necessary expense.
Travel is the same concept, if the purpose is business related, expenses like airfare and lodging are deductible.
Home office business expenses are deductible and include things like computers, printers, business cards, etc. (necessary business supplies and equipment).
Part of your rent is deductible if you use part of your home as a home office.
These are some of our favorite deductions and there are many others, so be sure to chat with your accountant so that you can lower your tax burden as much as possible.
Feel free to reach out with any questions.