92 Small Business Tax Deductions to Use Now (+11 You Should Never Try)

So far in this Ecommerce Tax Handbook we’ve covered sales tax, Amazon FBA, and tax law deadlines. Now we’re on to the fun stuff: deductions.

Taxes are business as usual, but so are a lot of other things. Small business in the U.S. are fortunate to have plenty of possible deductions to save money where they can.

Note that in order to use any of these deductions, you will need to prove the fees and cost. This means you need to keep receipts – all of them, and in an organized fashion.

Also, always consult with a tax advisor on when to use these and if you can. We’ve linked to several sites documenting when each deductible may apply to you. Not all of them will –– and some of the rules for being able to use the deduction can get quite granular.

Always double check with a tax expert to make sure you are neither overpaying or underpaying.

92 Small Business Tax Deductions

1. Accounting fees

2. Advertising & marketing

3. Amortization

4. Bad debts that you cannot collect

5. Banking fees

6. Board meetings

7. Building repairs and maintenance

8. Business association membership dues

9. Business travel (here’s what you need to know!)

10. Cafeteria health-insurance plan (requires plan)

11. Car expenses

12. Charitable deductions made for a business purpose

13. Charity or traveling to perform charitable services

14. Cleaning/janitorial services

15. Collection expenses

16. Commissions to outside parties

17. Computers and tech supplies

18. Consulting fees

19. Continuing education for yourself to maintain licensing and improve skills

20. Contractors

21. Conventions and trade shows

22. Credit card convenience fees

23. Depreciation

24. Discounts to customers

25. Eating out while you’re traveling for business

26. Education and training for your employees

27. Employee wages

28. Employee benefits

29. Entertainment for customers and clients

30. Equipment

31. Equipment repairs

32. Exhibits for publicity

33. Family members’ wages

34. Franchise fees

35. Freelancers

36. Freight or shipping costs

37. Furniture or fixtures

38. Gifts for customers or employees ($25 deduction limit for each)

39. Group insurance (if qualifying)

40. Guard dog

41. Gym for employees, located onsite

42. Health insurance

43. Home office (see our handy article)

44. Insurance premiums for credit, liability, malpractice, worker’s comp, and other insurance

45. Interest

46. Internet hosting and services

47. Inventory

48. Investment advice and fees

49. Legal fees

50. License fees

51. Management fees

52. Materials

53. Maintenance

54. Medical expenses (with plan)

55. Mortgage interest on business property

56. Moving

57. Newspapers and magazines

58. Office supplies and expenses

59. Outside services

60. Payroll processing

61. Payroll taxes for employees, including Social Security, Medicare taxes and unemployment taxes

62. Parking and tolls

63. Penalties and fines paid for late performance or nonperformance of contracts

64. Pension plans

65. Permits and fees

66. Postage

67. Profit sharing

68. Publicity

69. Prizes for contests

70. Real estate-related expenses

71. Rebates on sales

72. Rent

73. Research and development (we literally wrote the guide on this one!)

74. Retirement plans

75. Royalties

76. Safe-deposit box

77. Safe

78. Service fees

79. Software and online services

80. Startup expenses

81. Stereo equipment for playing background music at work

82. Storage rental

83. Subcontractors

84. Taxes (amazingly, taxes incurred in running your business are deductible)

85. Telephone

86. Theft and loss

87. Tips. Just because you didn’t get a receipt doesn’t mean you can’t deduct the cost, but you should document it just the same.

88. Uniforms for your employees

89. Utilities

90. Waste removal

91. Website design

92. Workers’ compensation insurance

11 Deductions to Avoid All Together

1. A small business loan—but you can deduct whatever you purchase with the loan

2. Business attire that you can wear outside of work (ie, non-uniforms)

3. Contributing your time to charity

4. Membership dues, even to a professional organization

5. Federal income tax payments

6. Your life and disability insurance premiums if you’re a sole prop., partnership, or S Corporation

7. Lobbyists

8. Penalties and fines you pay as the result of breaking the law

9. Political contributions

10. Professional accreditation fees

11. Your own salary if you’re a sole proprietor

Questions, concerns or any other deductions we missed? Leave them in the comments below.