The Ultimate Checklist of Tax Write Offs for Small Business

The Ultimate Checklist of Tax Write-Offs for Small Business

Understanding your tax write-offs as a small business is crucial. However, more often than not, we hear from small business tax preparers that many business owners do not take full advantage of their tax write-offs and deductions. When you don’t capitalize on the deductions you are leaving money on the table. Use the Ultimate Small Business Tax Write Off Checklist with the advice of your tax preparer to make sure you are making the most of your small business write-offs!

Ensuring you get the most out of your deductions depends on paying careful attention to the rules of what is and isn’t deductible. Keep in mind that every business is different and what you can write off in your small business does vary based on what your business does; the only way to completely ensure your tax write off accuracy is by consulting a tax professional before filing your taxes!


Download the Ultimate Small Business Tax Write-Off Checklist today!

Here are three of the most common deductions your tax preparer may suggest for your small business tax write-offs.


As a small business owner, you either use your car for business, or your business owns a company vehicle. You can deduct some of the costs of keeping it on the road.

There are two methods to calculate vehicle deductions:

  • Standard Mileage Rate
    • Deduct a certain amount for each mile driven, business-related tolls and parking fees.
  • Actual Expenses
    • Keep track of all of your actual business-related expenses to make deductions.

Track your total business auto expenses so you can calculate the maximum tax write-off on your tax return. You can use whichever method results in a larger deduction.


As a business owner, you understand the value of education and staying current. You can deduct education expense if they are related to your current business. So, unless you’re an artist that sculpting class you have been wanting to take is not deductible.

Types of Education:

  • Online Course
  • Books, eBooks, and Audiobooks
  • In-person training and Workshops
  • Reference Materials


Do you have a particular place in your home set up for business purposes? Do you use it on a regular basis? If you answered yes to both questions, then you can write off a portion of your bills associated with your home.

To calculate your deductions measure your work area and divide by the square footage of your home. The result will be the percentage of rent or mortgage, electricity, housing keeping, or insurance you can claim.

However, a word of warning to you.
Be sure your home office is dedicated to your work. Do not attempt to claim your living room or bedroom because you work on your laptop there. If you make a false claim, you will be in a heap of trouble if the auditor ever comes knocking.


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