It's everyone's favorite time of year... TAX SEASON! 😅
Paying taxes can be stressful for anyone, especially as a business owner. If you're just starting out, chances are you may be trying to do your own taxes. We've created a list of 10 things you can use as a write-off on your taxes that you may not have thought of!
1. Your Cell Phone + Cell Plan. Determine what percentage you use your phone for personal vs. business. If you pay $100 for your phone plan, and use your phone 60% for business, then you can write off $60.
2. Domain hosting. Any website + domain fees.
3. Office Expenses. Planners, Notebooks, Pens, etc.
4. Subscriptions. Quickbooks, Client Management Program, Software, etc.
5. Travel. Any trip that is for your business, you can deduct all travel costs!
6. Internet. Determine what percentage you use your internet for personal vs. business.
7. Your Home Office. Talk to you accountant about this!
8. Advertising. Google Ads, FB/IG Ads, Print Advertisements, Branding Costs, etc.
9. Equipment. Any equipment you use relating to running your business.
10. Mileage. If you drive somewhere for a business purpose, you can write off the cost of your gas, or the cost of your mileage.
Please contact an accountant or CPA for further questions on taxes.
Tune in next week for more #WeEducationMonday