Oh joy! Tax season is here, and when you’re running your own business, you’re probably feeling somewhat overwhelmed, especially since the deadline to file is quickly approaching. We understand: You’ve got combersume profit and loss forms to fill out, bank statements to reconcile and deductions to calculate. Being so busy with the nitty gritty aspect of tax season, we often overlook opportunities for small businesses to cut down tax bills.
When it comes to claiming deductions, the more you have, the more money you’re due to pay the government. But which deductions are fair game? Whether the majority of your costs are related to office supplies, business operation or travel, look no further than this infographic for some vital deductions. Use them to establish good expense-tracking habits so your 2016 tax return will be a breeze.
Small Business Tax Write-Offs