This Business News Story Was Uncovered By Us From: http://www.youngupstarts.com/2019/04/13/dont-forget-these-small-business-tax-deductions/
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by Eric Tyson, author of “Small Business Taxes For Dummies“
April 15th is just around the corner. If you haven’t already filed your taxes for 2018 (or will take an extension), it’s still not too late to get the maximum deduction amount for your business.
Small business owners sometimes overlook great tax reduction opportunities. Expenses are one area where you can find a surprising amount of tax write-offs for your small business. Don’t miss out on these important deductions when you’re tallying up your final numbers.
Keep reading for the dos (and a couple of don’ts) of deducting your small business expenses.
Do deduct your advertising.
Under this category, include the cost of any advertising that your business does to promote itself. This includes radio, newspaper, Internet, and print ads and promotional brochures and mailers.
Do deduct car and truck expenses.
When you use your car for business, the expenses of operating your car are deductible. Compute this deduction by using a flat rate per business mile or by keeping track of actual expenses. Keep a log of the mileage and business purpose of your trips or keep track with one of the popular apps.
Don’t deduct commuting costs (except under certain circumstances).
Commuting expenses between your home and office aren’t deductible. These expenses are considered personal commuting expenses, no matter how far your home is from your office or place of work. The cost of parking at your place of business isn’t deductible either.
· If you don’t have a regular office to go to, and you use your car to call on clients, the mileage between your home and the first customer you call on, and the mileage between the locatio… Read More
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