Our office hours have changed! We will now be closing at 12pm on Fridays.

See updated hours here!

22 tax breaks for your small business

As we get ready to ring in 2022, we’ve rounded up 22 tax deductions you’ll want to have on your radar as you gather receipts and documents and consider end-of-year tax write-offs.

Tax-deductible business expenses 

  1. Advertising and promotion 

  2. Business meals (100 percent deductible in 2021!) 

  3. Business insurance 

  4. Bank fees 

  5. Business use of your car 

  6. Contract labor 

  7. Depreciation 

  8. Education (related to your business; includes books tailored to your industry and transportation expenses to and from classes, seminars, and workshops) 

  9. Home office expenses

  10. Interest on business debts

  11. Legal and professional fees

  12. Moving expenses

  13. Rent expenses

  14. Salaries and benefits

  15. Taxes (e.g., state, payroll, personal property, real estate, sales, excise and fuel) 

  16. Business licenses

  17. Telephone and internet expenses

  18. Travel expenses

Personal tax deductions for business expenses 

  1. Charitable contributions

  2. Child and dependent care expenses

  3. Retirement contributions

  4. Health care expenses

These expenses are tax deductible, but don’t assume all of them apply to your business. Check the rules for each one at irs.gov or contact our firm for assistance so you can start planning ahead for next year, too.

Back to issue