Tax Deductions for Small Businesses

There are several hidden tax deductions for small businesses that the IRS doesn’t give away, but with a little research, you may be able to find ones that you qualify for without even knowing. Bernard Kamoroff, a CPA and author of “422 Tax Deductions for Businesses & Self-Employed Individuals,” lays out 25 of these types of deductions on BusinessWeek, including:

>Business-related books and subscriptions to magazines, newspapers and trade publications

>Business cards for yourself and your employees

>Greeting cards to clients and prospects, as well as stamps and other mailing costs

Always check with an accountant first to make sure you can file for these tax deductions, and keep all the necessary paperwork to prove that these write-offs are business related in case you are audited. To read more, click here.


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