Promotional products, corporate gifts, or clothing with your business logo on them can also be claimed. . Small business office expenses Speaking of subscriptions, what about your LinkedIn, Google account and cloud storage? Those should be in your small business deductions. Next, be sure to claim the expenses outlayed to host any virtual meetings, including Software Speakers Headsets Video cameras You should also claim postage and freight costs including stamps, paper, envelopes, labels, pens, your new year calendar and cleaning supplies. Coffee and kitchen food supplies for the office for your employees and clients are generally tax deductible too.
Business development and training When it comes to training, claim workshops and business events you’ve attended as well as online courses and programs related to your business. If you’re a member of a specialised group that helps you run your business better, that’s a valid USA WhatsApp Number List deduction too. Any costs associated with training or upskilling employees should also be included. Business book subscriptions such as Audible can be claimed, as well as hard copy books and resources. . Business finance, insurance and legal costs The interest and fees associated with any loans ( Moula, Prospa, Paypal, traditional bank) are a business expense you can claim.
Request the financier’s loan statements to make sure that all interest and fees are included in your tax return. Include the cost of your accountant, your bookkeeper and your tax return submission in your small business tax deductions. Small Business Tax Deductions Attorneys Professional services such as financial or legal advice can also be deducted. Don’t forget to include the cost of any legal, HR, bookkeeping or accounting advice you received throughout the tax year. . Depreciable assets Most business will have purchased assets that count toward their small business deductions. These are all deductible Computers Printers Bookshelves Desks.