The Top 10 Deductions Your Business Should Be Taking
Posted by admin on Jun 11, 2008
Are you unsure that you are getting all of the small business deductions that you should be getting? If so, then consider what the top ten deductions for small business are and find out if you are applying for them.
First, the most overlooked is that of car deductions such as traveling to business meetings and other business related activities. Next, office expenses should be noted. This includes everything from your office furniture to the utilities that it takes to keep it running. Business travel is another consideration. Remember that you get 100 percent deduction for your travel and accommodations and another 50 percent on your meals. Meals and entertainment are just as important there. Depreciation, rent for equipment and tools, and supplies are also deductions you may miss.
The others include legal and professional services, insurance and business start up costs.