As a small business owner, taking advantage of deductions can significantly lower your taxable income:
- Home Office Deduction: If you use a portion of your home exclusively for business, you can deduct related expenses.
- Vehicle Expenses: Deduct mileage or actual expenses if you use your vehicle for business purposes.
- Office Supplies & Equipment: Computers, printers, and software used for business can be deducted.
- Marketing & Advertising Costs: Website expenses, online ads, and promotional materials are fully deductible.
Keeping thorough records will ensure you claim all eligible deductions.
