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5 Of The Best Tax Deductions For You & Your Business





One perk of running your own business is that business expenses can be tax deductible, helping you lower your tax bill!


Here are 5 of the best tax deductions for you and your business:


1) Meals & Drinks


Business meals and drinks are deductible when the purpose is for business. A little bonus tip is that in 2022 business meals and drinks are 100% tax deductible.


2) Car Payments


If you lease a car, your monthly payments can be tax deductible. If you own your car, things like vehicle mileage can qualify for a tax deduction.


3) Travel


When you travel for business, things like airfare and hotels can qualify for a tax deduction. Just make sure you save your receipts!


4) Rent


If you rent an office space, you can deduct your rent. If you have a home office, the square footage of your home that is used for business is deductible.


5) Donations


Donations are also a tax deduction which is great. If you help a charity in need, your contribution is a deduction on your tax return.


Hope this helps. If you have questions, feel free to reach out to our team!

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