"Forbes" declare : 10 Small Business Tax Deductions You're Probably Missing

However, if you're traveling to a specific destination (say, a client's office) exclusively for business purposes, you should qualify. Here are ten small business deductions that go beyond the obvious examples, such as office supplies or advertising expenses. Magazine SubscriptionsWhether you read them or plan to use them as waiting room or lounge materials, magazine subscriptions can often be deducted as a business expense. 2. Business MileageIf you operate a business vehicle - for example, as part of a construction or landscaping fleet - you can generally deduct the full expenses associated with purchasing, running and maintaining it. In 2014, the IRS assessed "$2.1 billion in civil penalties against business income tax filers." Protect yourself, but don't leave money on the table either.


As it stated in "A client tried to deduct the cost of a shotgun," says Steven J. Weil, Ph.D., EA, president and partner of Fort Lauderdale firm RMS Accounting. Make sure you keep good records and consider working with a qualified tax professional with experience helping small business owners. As a small business owner, you want to take every legal tax deduction you can to lower your tax bill. Firearms was a popular response mentioned by several experts asked to share some of the unique items for which they've seen business owners try to get a tax break. "A purchase from SexyHighHeels.com," says Donna Merrill, business coach, tax expert and founder of Business Untangled, describing surprising items her clients have tried to write off.