Here is a list of allowable deductions you may as a entrepreneur be able to deduct.
- Accounting fees
- Advertising
- Amortization
- Auto expenses
- Banking fees
- Board meetings
- Building repairs and maintenance
- Business travel
- Business association membership dues
- Charitable deductions made for a business purpose
- Children on payroll (Models?)
- Cleaning/janitorial services
- Cameras (Yes, people have them still)
- Collection expenses
- Commissions to affiliates
- Computers and tech supplies
- Consulting fees
- Continuing education (conventions and trade shows also)
- Costs of goods sold
- Credit card convenience fees
- Depreciation
- Dining and office food
- Drones
- Education and training for employees
- Equipment
- Exhibits for publicity
- Franchise fees
- Freight or shipping costs
- Furniture or fixtures
- Gifts for customers ($25 deduction limit for each)
- Group insurance (if qualifying)
- Health insurance
- Equipment repairs
- Health Reimbursement Arrangement (HRA)
- Health Savings Account (HSA)
- Home office (280a)
- Interest
- Internet hosting and services
- Investment advice and fees
- Legal fees
- Leased vehicle or equipment
- License fees
- Losses due to theft
- Materials
- Maintenance and janitorial
- Mortgage interest on business property
- Moving
- Newspapers and magazines
- Office supplies and expenses
- Outside services
- Payroll taxes for employees (Social Security, Medicare taxes and unemployment taxes)
- Parking and tolls
- Pass-Through 199A Deduction
- Pension plans
- Postage
- Prizes for contests
- Real estate-related expenses (rent included)
- Rebates on sales
- Research and development
- Rental (Investment) property
- Retirement plans
- Royalties
- Safe-deposit box
- Safe
- Spouse on payroll (oh, employees also)
- Social media advertising
- Software and online services
- Storage rental (rental lockers)
- Subcontractors
- Taxes (personal and real property)
- Telephone
- Travel that is business oriented
- Utilities
- Website design/consulting
- Workers’ compensation insurance
