5 Commonly Missed Tax Deductions for Small Business Owners
Stop leaving money on the table at tax time.
Small business owners—especially solopreneurs and service providers—are often so focused on growing their business that they overlook one of the biggest opportunities to save money: tax deductions.
At DBR Bookkeeping, we’ve seen it time and again—clients overpaying because they didn’t know what they could write off. If you’re in Northwest Arkansas or anywhere else, these deductions can help lower your tax bill and keep more cash in your business.
Here are five commonly missed deductions that you should know about:
1. Home Office Deduction
If you regularly work from a dedicated space in your home, you may qualify to deduct a portion of your rent or mortgage, utilities, internet, and insurance. The key is that the space must be used exclusively for business.
✅ Tip: Take pictures of your workspace and keep documentation in case of an audit.
2. Software & Subscriptions
Whether it’s Canva, Zoom, QuickBooks, or your CRM—if it’s essential to running your business, it’s deductible. Many business owners forget to track these “smaller” monthly expenses, but they add up fast.
✅ Tip: Review your business bank statements to identify recurring charges.
3. Mileage & Travel Expenses
Driving to client meetings, conferences, or even the post office for business counts. You can deduct either actual vehicle expenses or use the standard mileage rate.
✅ Tip: Use a mileage tracker app to automatically log your business miles.
4. Continuing Education & Training
Webinars, certifications, online courses, and books that enhance your skills as a business owner are deductible. This is especially useful for coaches, consultants, creatives, and health professionals.
✅ Tip: Save receipts and make note of how the training is related to your business.
5. Professional Services
Did you hire a bookkeeper, graphic designer, or virtual assistant? What about legal or tax prep help? These costs are fully deductible.
✅ Tip: Pay vendors through your business account and keep digital copies of invoices.
Frequently Asked Questions (FAQ)
Q: Can I write off my phone bill?
A: If you use your phone for business, you can deduct a percentage based on usage. Keep a record of business vs. personal use.
Q: What if I forgot to track expenses earlier this year?
A: It’s not too late. Go back through bank and credit card statements to reconstruct your records.
Q: Do I need receipts for every deduction?
A: Yes. Keep digital or paper copies of receipts for any expense over $75—or anything you want to deduct.
Q: How do I know if a deduction is valid?
A: If it’s ordinary and necessary for running your business, it likely qualifies. When in doubt, ask your bookkeeper or CPA.
Stop Missing Out on Money You Deserve
Every missed deduction is money that could’ve stayed in your business—or gone toward growth. Let’s fix that.
📅 Book a free call with Dr. Bryan Raya to uncover hidden deductions and make sure your books are Doing Business Right.
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