Filing Taxes: To Claim or Not to Claim

Picture Courtesy of

Picture Courtesy of

A lot of small business owners may not have an accounting background, and trying to remember what items can and cannot be claimed can be very tricky.  So, the writers at Elizabeth Jamey Consulting have come up with a simple starter list of what a small business owner can and cannot claim on their taxes.

Please note, while the writers at Elizabeth Jamey Consulting do have some accounting experience and background, they are not accountants.  We recommend all small business owners to consult an actual accountant when it comes time to file their taxes.

Deductible Business Expenses

Fully Deductible

  1. Accounting Fees
  2. Advertising
  3. Bank Charges
  4. Commissions and sales expenses
  5. Consultation Expenses
  6. Continuing Professional Education
  7. Contract Labor
  8. Credit and Collection Fees
  9. Delivery Charges
  10. Dues and Subscriptions
  11. Employee Benefit Programs
  12. Equipment Rentals
  13. Factory Expenses
  14. Insurance
  15. Interest Paid
  16. Internet Subscriptions, domain names, and hosting
  17. Laundry
  18. Legal Fees
  19. Licenses
  20. Maintenance and Repairs
  21. Office Expenses and Supplies
  22. Pension and Profit sharing supplies
  23. Postage
  24. Print and copy
  25. Professional development and training
  26. Professional fees
  27. Promotion
  28. Rent
  29. Salaries, wages, and other compensation
  30. Security
  31. Small tools and equipment
  32. Software
  33. Supplies
  34. Taxes
  35. Telephone
  36. Trade Discounts
  37. Travel
  38. Utilities

Partial Deductible

  • Gifts: are deductible up to $25 per person.  Gift items cost $4 or less is fully deductible.
  • Automobile and Transportation Expenses: must be split between personal use (non-deductible) and business use (deductible)
  • Home Office: must be split between personal use (non-deductible) and business use (deductible)
  • Meals and Entertainment: Only 50% is deductible


  • Bribes and kickbacks
  • Contributions to political parties or candidates
  • Dues and membership fees for social clubs
  • Lobbying Expenses
  • Penalties and Fines

Like this post?  Want to see more? Have any tips or ideas for upcoming posts?  Well if so, then you can contact Elizabeth-Jamey  below.


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