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75 Items You May Be Able to Legally Deduct from Your Taxes

75 Items You May Be Able to Legally Deduct from Your Taxes

There are some smart ways you may deduct some expenses and fees on your tax return.

 1. Accounting fees


2. Advertising


3. Amortization


4. Auto expenses


5. Bad debts that you cannot collect


6. Banking fees


7. Board meetings


8. Building repairs and maintenance


9. Business association membership dues


10. Business travel


11. Cafeteria health-insurance plan (requires plan)


12. Charitable deductions made for a business purpose


13. Cleaning/janitorial services


14. Collection Expenses


15. Commissions to outside parties


16. Computers and tech supplies


17.Consulting fees


18. Continuing education for yourself to maintain licensing and improve skillsl


19. Conventions and trade shows


20. Costs of goods sold


21. Credit card convenience fees


22. Depreciation


23. Dining during business travel


24. Discounts to customers


25. Education and training for employees


26. Employee wages


27. Entertainment for customers and clients


28. Equipment


29. Equipment repairs


30. Exhibits for publicity


31. Family members' wages


32. Franchise fees


33. Freight or shipping costs


34. Furniture or fixtures


35. Gifts for customers ($25 deduction limit for each)


36. Group insurance (if qualifying)


37. Health insurance


38. Home office


39. Interest


40. Internet hosting and services


41. Investment advice and fees


42. Legal fees


43. License fees


44. Losses due to theft


45. Management fees


46. Materials


47. Maintenance


48. Medical expenses (with plan)


49. Mortgage interest on business property


50. Moving


51. Newspapers and magazines


52. Office supplies and expenses


53. Outside services


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


55. Parking and tolls


56. Pension plans


57. Postage


58. Publicity


59. Prizes for contests


60. Real estate-related expenses


61. Rebates on sales


62. Rent


63. Research and development


64. Retirement plans


65. Royalties


66. Safe-deposit box


67. Safe


68. Software and online services


69. Storage rental


70. Subcontractors


71. Taxes


72. Telephone


73. Utilities


74. Website design

75. Workers' compensation insurance

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