7 Tax Deductions Small Businesses Often Miss

Most small business owners leave money on the table at tax time, not through error, but simply because they do not know which deductions apply to them. In this guide we walk through seven of the most commonly missed deductions and how to document them correctly.

Why these deductions get missed

Deductions are missed for two reasons: poor records and a lack of awareness. When receipts and mileage are not tracked consistently, legitimate expenses simply never make it onto the return.

What to do next

Keep a dedicated business account, log expenses as they happen, and review your categories with an advisor before filing. A short planning conversation almost always pays for itself.