March 2nd, 2017
When you incorporate your business, every business expense is deductible (take a look at how much an individual pays in taxes versus an S Corp HERE.
But many people still don’t know exactly what they can deduct. Here’s a basic list of the items you should be deducting from your taxes...
Automobile Expenses (gas, repair, oil, etc.)
Bank Service Charges
Meals and Entertainment (including travel-related)
Small Tools and Equipment
And so much more...
Click HERE to see a more complete list of expenses that you can deduct.
It’s not uncommon for business owners to short change themselves when it comes to deducting – don’t let that be you this year! Schedule an appointment with my office and together we’ll make sure that you’re deducting everything you can.
Next week I’m going to talk about incorporating your business to save money on taxes!
Phone (847) 221-9058
Send SMS (224) 676-3577
By appointment only
Ilona Dovidaitiene, EA
Enrolled to practice before the IRS