5 Tax Deductions Business Coaches & Consultants Often Miss

Jan 28

📉 Don’t leave money on the table this tax season.

As a business coach or consultant, you spend your time helping others grow—but are you overlooking the financial details that could help your bottom line?

Here are five commonly missed tax deductions that could significantly reduce your tax liability and improve your business’s financial health.

1. Home Office Deduction

If you have a space in your home used exclusively for business—whether for Zoom calls, client work, or strategy planning—you may qualify to deduct a percentage of:

Rent or mortgage interest
Utilities
Internet
Home repairs (related to your workspace)

💡 Tip: Keep photos and measurements of your office on file in case of an audit.

2. Professional Services

Payments to accountants, legal professionals, coaches, or consultants (yes, even those you hire) are deductible.

💡 Tip: Use QuickBooks to track and categorize these payments by vendor.

3. Business Travel & Client Meetings

Whether you’re attending a conference or meeting a client out of town, your travel expenses may be deductible, including:

Flights
Hotels
Ground transportation
Meals (subject to IRS limitations)

💡 Tip: Keep a travel log and save receipts—even for meals and tips.

4. Continuing Education

Courses, certifications, workshops, and conferences that enhance your skills as a consultant or coach are deductible.

💡 Tip: Save your registration confirmations and course materials as proof of relevance to your business.

5. Software & Tools

Tools that support your work—like Zoom, project management platforms, and CRM systems—count as deductible business expenses.

💡 Tip: Set up recurring expenses in QuickBooks so nothing gets missed.

🧾 FAQ for Coaches & Consultants

Q: What’s the best way to track income from multiple clients?
👉 Use accounting software like QuickBooks to create categories or tags by client.

Q: Can I deduct my home office if I also use a co-working space?
👉 Yes—but only the space used exclusively for business at home qualifies.

Q: Are there limits on travel deductions?
👉 Yes, some meals and entertainment have caps. Always consult with a tax professional.

Q: How can I stay organized year-round?
👉 Automate your invoicing and reporting. Or better yet, get support from the DBR Bookkeeping Skool Community.

🎯 Want to maximize your tax deductions and run a more profitable coaching business?

Join the DBR Bookkeeping Skool Community for expert guidance, templates, and personalized support.

Let’s start Doing Business Right.

#BusinessCoaches #Consultants #TaxDeductions #BookkeepingTips #DBRBookkeeping #DoingBusinessRight

Bryan Raya