The Most Effective Tax Strategy: Available Deductions

Home-based business owners have far more possible deductions than the average taxpayer. Here is a list of some of the Schedule C categories from the IRS. Of course, you must follow the IRS's standards before you can claim a tax deduction. Please consult a Tax Pro: info@programmllc.com to determine whether you are eligible for any or more of the deductions mentioned below:

Schedule C Deductions

• Advertising

• Bad debts from sales/services

• Car and truck expenses

• Commissions and Fees

• Cost of Goods sold

• Depletion

• Depreciation

• Employee Benefits Program

• Expenses for business use of your primary home

• Insurance ( Except for Health)

• Interest ( Mortgage (paid to banks) & other forms)

• Legal & Professional Services

• Marketing

• Office expenses

• Pension & profit-sharing plans

• Rent or lease ( Vehicles, machinery, other types of equipment)

• Other business property

• Repairs & maintenance

• Supplies

• Taxes & Licenses

• Travel & Meals

• Entertainment

• Utilities

• Wages

• Other expenses

And a plethora of other deductions that a Tax Pro can assist you in identifying!!