5 things buisness owners could be writing of in taxes
5 things buisness owners could be writing of in...
If you are a business owner, no matter the business size, these are a few things you should be tracking over the year, as you could be writing them off in your taxes:
1. Auto expenses: from home to office, to client visit. Make sure you are keeping track of mileage & parking fees.
2. Meals - having lunch offsite with your team or a client? Keep track!
3. Credit card convenience fees. If you are expensing things - make sure you track the CC fees that could go along with your purchases.
4. Gifts for customers & office supplies. Anything you're buying and giving away (to the office, or outside of it) could be a potential write-off.
5. Postage - if you are regularly mailing and shipping, this could be yet another to keep track of.
Make sure to track all business expenses so you can review them with your CPA when it comes to doing your taxes! Not only does it ensure you don't miss anything, but it is important to have documentation as well.
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