Top 10 Tax Deductions Most Small Businesses Miss

Every dollar of legitimate deduction reduces your taxable income. Yet year after year, small businesses overlook write-offs they are fully entitled to claim.

The commonly missed ten

• Home office (regular and exclusive use)
• Business use of your vehicle
• Startup and organizational costs
• Professional development and education
• Software and subscription services
• Business insurance premiums
• Bank and merchant processing fees
• Retirement plan contributions
• Health insurance for owners
• Bad debts and written-off receivables

Document everything

The difference between a claimed and a disallowed deduction is documentation. Keep contemporaneous records, and review your books with an advisor before filing.