Small Business tax deductions bookkeeperlive.pdf

Owning a small business comes with the perk of deducting many expenses from your taxable income. This can significantly reduce your tax bill.

1. Tax Deduction
Small Business

2. Salaries and
Benefits
Rent Expenses

3. Business
Insurance
Business Meals

4. Moving
Expenses
Travel
Expenses

5. Business Use of
Your Car
Contract
Labour

6. Personal
Expenses
Depreciation

7. Advertising and
Promotion
Legal and
Professional
Fees

8. Home Office
Education

9. Interest
Telephone and
Internet Expenses

10. Business Interest
and Bank Fees