Small Business Tax Deduction List
Regardless of the size of your new company or how much revenue it generates, it will always save you money. Every single year, you are going to save money because you own and operate a small business. Business expenses are tax breaks for small business owners!
Most people don’t truly understand the full extent of small business tax rules, simply because they never have owned a business before now.
Imagine all the expenses you can now write off as a small business owner. Here is a small business tax deduction list to name a few:
- Cell Phone, Home Phone
- Internet
- Travel
- Entertainment
- Electric Bill
- Gas Bill
- Water Bill
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- Auto Expenses
- Office Supplies – Including computers, printers, fax machines
- Mortgage
- Real Estate Taxes
- And Much, Much More!!!
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Whether you are jumping into creating your new corporation with full fledged products and services or if you want to see if your hobby can make you a full time income, you can now maximize your year-end tax strategy. And it’s well deserved. You are trying to see if you can take your skills, couple with a hobby or passion and turn it into a viable job. You want to see if you can escape the 9-5 rat race and free yourself to do what you want.
After all, the government likes small businesses. That’s why they’ve created tax breaks for small business owners that do go out and take a chance on freedom. It’s the American Dream.
There is also the ability to create more jobs with every business that’s formed. Every government wants new jobs and lower unemployment - it makes them look better!
So even if you keep your regular full time job, having your own small business will allow you to lower your taxable income and maximize your small business tax exemptions - which means you pay less taxes than you presently do and you will dramatically increase your tax returns at the end of the year!
