5 Tax Deductions Business Owners Often Overlook

Written By Adam Ramroop

When it comes to taxes, every dollar counts. Unfortunately, many small business owners miss out on deductions that could lower their tax bill. Here are five to watch for:

1. Home Office Deduction
If you regularly and exclusively use a space at home for business, part of your rent or mortgage may be deductible.

2. Business Mileage
Driving to meet clients or for business errands counts as deductible mileage.

3. Software & Subscriptions
QuickBooks, Zoom, email marketing tools—all deductible business expenses.

4. Professional Services
Bookkeeping, tax prep, legal, and consulting fees are fully deductible.

5. Retirement Contributions
Contributions to a SEP IRA, SIMPLE IRA, or Solo 401(k) can reduce taxable income.

Tip: Always keep documentation to back up deductions in case of an audit.

Adam Ramroop
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