Tax Write Off’s

Tax write off list

Here’s a short list of business expenses you can write off for tax purposes. Be sure to check with an accountant to make sure your business tax write-off list is appropriate and necessary for you.

• Cost of Goods Sold — the costs for products and raw materials, including shipping
• Storage costs for products you sell
• Labor costs for workers who make your products
• Factory overhead expenses
• Capital Expenses from going into business, acquiring assets and making improvements
• Business Use of Your Home
• Business Use of Your Car
• Employees’ pay
• Retirement plans for you and your employees
• Rental expenses
• Interest
• Taxes (some)
• Insurance
• Advertising
• Stationery and supplies

Those are just some of the write-offs enjoyed by small businesses, like consultants. For more information on business write-offs, check out the following articles:

• Write offs from Business Week
• Writing off start-up costs from Microsoft
• Self-employment tax info from the IRS
• Business expenses and write-offs from the IRS
• Writing off business use of home from the IRS
• Writing off business use of your car from the IRS
• Some really detailed business expense write-offs from the IRS
• Overlooked tax deductions from Jackson Hewitt

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