The Business Expenses List You Can Write Off

 

Trying to think of any and all personal expenses that may have a business purpose can be daunting. Owning a small business venture not only in your life, but also on your tax return is enough work as it is. When it comes to tax season, you may be looking for a business expenses list of personal expenses that you can convert to business expenses. As long as you have the proper business purpose for that expense, and you’re proficient at keeping good records, you’ll be able to write off a good portion of these common expenses. 

legitimate deductions. This will minimize your risk of audit and make sure it’s all documented just in case.

Possible Tax Deductions for Businesses

  • Accounting/Bookkeeping fees

  • Advertising

  • Automobile expenses (only the percent used for business)

  • Bad debts you can’t collect

  • Banking service charges and fees

  • Books and periodicals

  • Building repairs and maintenance

  • Business association membership dues

  • Business/Trade conventions

  • Business travel

  • Business gifts (annual limit of $25 per recipient)

  • Business meals (50% deductible)

  • Cafeteria health-insurance plan

  • Charitable deductions made for business purpose

  • Cleaning/Janitorial services

  • Coaching fees related to business

  • Commissions to outside parties

  • Computer, printer, and software (if used over 50% for business)

  • Consultant fees

  • Costs of goods sold

  • Credit card convenience fees

  • Depreciation and amortization

  • Discounts to customers

  • Education for maintaining or improving required skills (yourself)

  • Education and training for employees

  • Email, Internet access, and web hosting services

  • Employee wages

  • Entertainment for customers and clients

  • Equipment and equipment repairs

  • Exhibits for publicity

  • Family members’ wages

  • Franchise fees

  • Freight or shipping costs

  • Furniture or fixtures

  • Gifts for customers ($25 deduction limit per recipient)

  • Group insurance

  • Health insurance

  • Home office

  • Insurance expense

  • Interest

  • Investment advice and fees

  • Legal and attorney fees

  • License fees and taxes

  • Losses due to theft

  • Management fees

  • Materials

  • Medical expenses (with plan)

  • Merchant account or credit card processing fees

  • Mortgage interest on business property

  • Moving

  • Newspapers and magazines

  • Office supplies

  • Online services used for the business

  • Parking and tolls

  • Payroll taxes for employees

  • Pension plans

  • Postage

  • Prizes for contests

  • Real estate-related expenses

  • Rebates on sales

  • Rent

  • Research and development

  • Retirement plans

  • Royalties

  • Safety deposit box

  • Safe

  • Self-employment taxes

  • Start-up expenses

  • State and local business taxes

  • Storage rental

  • Subcontractors

  • Taxes

  • Telephone

  • Utilities

  • Website design

  • Worker’s compensation insurance

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