News & Blog

March 18, 2020

2017 Tax Planning

15 COMMONLY MISSED TAX DEDUCTIONS

Here are some tax deductions you may not be taking advantage of:

  1. Business interest on vehicles
  2. Business interest on credit cards
  3. Business bank fees
  4. Business use of internet access fees
  5. Business use of computers and accessories/software (general tools of your trade)
  6. Non-cash charity (i.e. donating clothing, artwork, collectibles, etc.)
  7. Business tolls/parking and tips paid while traveling
  8. Business gatherings at the home
  9. Business meals (i.e. doughnuts, bagels, etc.)
  10. Business events and trade shows
  11. Office decorations and small appliances
  12. Business gifts ($25 per year per person)
  13. Business use of devices/briefcases, etc.
  14. Higher education expenses and student loan interest
  15. Business use of publications, magazines, newspapers

If you are wanting to know about more tax deductions that could be saving you on your tax liability, contact us today.

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