10/05/2026
โ ๐ฆ๐๐ผ๐ฟ๐: ๐ฑ ๐ง๐ฎ๐
๐๐ฒ๐ฑ๐๐ฐ๐๐ถ๐ผ๐ป๐ ๐๐๐๐ถ๐ป๐ฒ๐๐ ๐ข๐๐ป๐ฒ๐ฟ๐ ๐๐ผ๐ฟ๐ด๐ฒ๐
A business owner walked into my office and said,
*"๐ ๐ธ๐ช๐ด๐ฉ ๐ ๐ฉ๐ข๐ฅ ๐ฌ๐ฏ๐ฐ๐ธ๐ฏ ๐ข๐ฃ๐ฐ๐ถ๐ต ๐ต๐ฉ๐ฆ๐ด๐ฆ ๐ฃ๐ฆ๐ง๐ฐ๐ณ๐ฆ ๐ต๐ข๐น ๐ด๐ฆ๐ข๐ด๐ฐ๐ฏ."*
I smiled and grabbed a napkin.
Then I wrote:
๐จ ๐ฑ ๐ง๐ฎ๐
๐๐ฒ๐ฑ๐๐ฐ๐๐ถ๐ผ๐ป๐ ๐๐๐๐ถ๐ป๐ฒ๐๐ ๐ข๐๐ป๐ฒ๐ฟ๐ ๐ข๐ณ๐๐ฒ๐ป ๐๐ผ๐ฟ๐ด๐ฒ๐
โ
๐ญ. ๐๐ผ๐บ๐ฒ ๐ข๐ณ๐ณ๐ถ๐ฐ๐ฒ ๐๐
๐ฝ๐ฒ๐ป๐๐ฒ๐**
If you work from home, a portion of eligible expenses such as utilities, internet, rent, mortgage interest (depending on structure), property taxes, and home insurance may be deductible.
โ
๐ฎ. ๐ฉ๐ฒ๐ต๐ถ๐ฐ๐น๐ฒ ๐๐
๐ฝ๐ฒ๐ป๐๐ฒ๐**
Business-related driving may allow you to claim fuel, insurance, maintenance, registration, lease payments, or eligible vehicle expensesโprovided you keep proper mileage records.
โ
๐ฏ. ๐๐๐๐ถ๐ป๐ฒ๐๐ ๐จ๐๐ฒ ๐ผ๐ณ ๐๐ฒ๐น๐น ๐ฃ๐ต๐ผ๐ป๐ฒ & ๐๐ป๐๐ฒ๐ฟ๐ป๐ฒ๐**
Many owners use their phones and internet for business every day but forget to track the business-use portion.
โ
๐ฐ. ๐ฃ๐ฟ๐ผ๐ณ๐ฒ๐๐๐ถ๐ผ๐ป๐ฎ๐น ๐๐ฒ๐ฒ๐**
Accounting, bookkeeping, legal fees, consulting fees, and certain professional memberships are commonly overlooked deductions.
โ
๐ฑ. ๐๐ฑ๐๐ฒ๐ฟ๐๐ถ๐๐ถ๐ป๐ด & ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐๐ถ๐ป๐ด**
Website costs, social media advertising, business cards, flyers, promotional materials, and other marketing expenses are often deductible business expenses.
The business owner looked surprised.
*"๐ ๐ฅ๐ช๐ฅ๐ฏ'๐ต ๐ณ๐ฆ๐ข๐ญ๐ช๐ป๐ฆ ๐ด๐ฐ๐ฎ๐ฆ ๐ฐ๐ง ๐ต๐ฉ๐ฐ๐ด๐ฆ ๐ค๐ฐ๐ถ๐ญ๐ฅ ๐ฎ๐ข๐ฌ๐ฆ ๐ข ๐ฅ๐ช๐ง๐ง๐ฆ๐ณ๐ฆ๐ฏ๐ค๐ฆ."*
*"๐๐ฎ๐ข๐ญ๐ญ ๐ฅ๐ฆ๐ฅ๐ถ๐ค๐ต๐ช๐ฐ๐ฏ๐ด ๐ข๐ฅ๐ฅ ๐ถ๐ฑ,"* I replied.
Then I drew a bucket. ๐ชฃ
Each deduction was a small drop of water.
๐ง + ๐ง + ๐ง + ๐ง + ๐ง
Soon the bucket was full.
๐ ๐๐ฒ๐๐๐ผ๐ป:
Many business owners focus on earning more revenue.
But keeping accurate records and claiming legitimate business expenses can also help improve the bottom line.
The key is good recordkeeping throughout the yearโnot trying to remember everything at tax time.
๐ Business owner? When was the last time you reviewed your deductions and expense tracking system?
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