We get asked time and time again whether certain expenses are deductible for business purposes, so we thought we'd create a giant list of the most common expenses our clients write off.
While the ability to deduct certain expenses depends on your industry or the specific purpose behind the cost, the items in this list are pretty universal.
We created a pdf you can download, print out, and reference this tax season or as you're contemplating purchasing that training course or coffee for a client.
As always, be sure to consult an accountant if you have questions about specific transactions.
Without further ado, here is our giant list of 75 tax deductions for your business.
Website costs - ex: Squarespace subscription, hosting fees
Website designer fees
E-mail marketing software subscriptions
Ads - Facebook, Google, billboard, newspaper,etc.
Business cards, flyers, other promotional material
Stock photo purchases for your website or social media
Branded swag for your team or clients - pens, mugs, t-shirts, etc.
Promoted content on platforms like Facebook or Instagram
Paid promoted listings on Yelp or other search engines
Business use of your home - make sure to read up on the rules & calculations
Business use of vehicle expenses - rules apply here as well
Airfare, train or bus tickets for business travel
Hotels or Airbnb charges for business trips
Transportation while away from home on business - ie. cabs, Uber, public transit
Parking fees when driving to business-related event
Tolls when driving for business purpose
Laundry and dry cleaning while traveling
Tips for service providers at the hotel
50% of meals while traveling on business
50% of business meals with clients or customers
50% of office snacks if provided for your team
50% of team lunches out if fewer than 50% of employees are present
Food provided at company holiday parties
Dinner for employees working late at the office
Books and magazines related to your industry
Industry conference fees
Office rent, including flexible offices in a coworking space
Office utilities, including water, gas electric, garbage pickup
Internet at the office or on the go - ex: airplane WiFi when traveling on business
Cell phone bill, but only the portion used for business
Office decor (within reason)
Office cleaning fees
Repairs and maintenance for equipment or office
Business equipment rental
Security system and monitoring fees
Local business licenses
Business permitting fees
Professional licensing fees
Training to keep professional licenses current
Trademark or copyright fees
Business formation or renewal fees
PO Box or registered agent fees
Business insurance for your office, general liability, professional liability, etc.
Interest charges on business credit cards or loans
Tax preparation fees
Accounting or bookkeeping fees
Accounting software charges
Lawyer fees - for writing up operating agreement or other legal services
Affiliate commissions paid to influencers
Referral fees you pay to others for referring customers to you
Digital marketing agency fees
SEO consultants or contractors
Business coaching fees
Photographer’s fees for branding shots
Other contractors providing a service for your business
Employer portion of payroll taxes
Employee health insurance - check rules for eligibility
Employee life insurance
Contributions to employee retirement plans
Employee dependent care support
Materials costs for handmade or manufactured products
Shipping and postage supplies
Printing and copying fees
Paper, pens, paper clips, staples and other office supplies
Office equipment if under $2,500 - if over the threshold, accounting rules apply
Computers, printers, copiers under $2,500 - if over the threshold, accounting rules apply
Design software subscriptions - ie. Canva, Adobe, etc.
Industry-specific expenses - ie. photography props, recipe ingredients for food blogger
Continuing education in your industry - ex: webinars, courses, training
Memberships to professional associations
Of course, this is not an exhaustive list of all deductions available to you as a business owner. To maximize your deductions, make sure you're storing your receipts (digitally is fine), keeping up with your accounting records, and working with your accountant on your unique business situation. Interested in speaking with us about how we can help? We'd love to chat.