5 Common Tax Breaks for Business Owners

tax breaks

As a small business owner, you have a lot of work to do, and around tax season, your workload increases as you have to focus on completing your taxes.  Making it through tax season may seem like a trial, but with these 5 tax breaks for business owners, you may find the season more manageable than you thought!

1. Home Office Deductions

Many small business owners in the US work from home, and this makes home office deductions a viable option.  If you run your business from your home, you can deduct portions of your heating, cooling, insurance and even the actual space of your home office.


Compiling these deductions can be a bit complicated, but it is certainly worth it in the end!

2. Business Travel Expenses

If you are required to travel frequently for work, you can also deduct these costs.  That includes your mileage, transportation, hotel costs, meals, and entertainment if you entertain your clients.

Remember to keep good records all year long, so you can make these deductions easily.

3. Loan Interest

Many businesses require a loan to get on their feet, and the interest costs of a loan are deductible.

4. Legal and Professional Fees

Since legal and other fees are a huge part of a business’s yearly expenses, it is no wonder these fees are deductible.  Once again, be sure to keep good records so your deductions will be simple and clear.

5. Marketing Expenses

Any money spent to market your company to your community should be deductible.  Since your marketing costs can certainly add up, this is an important deduction to take advantage of.


Taking care of your business can be a lot of work, but these tips can help you make it through the busy tax season.  For more information, click here to visit the Heuer Insurance site.