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What Can I Write Off As A Deduction? The Complete List Of Small Business Tax Deductions

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Chelsea Krause

Chelsea Krause

Content Strategist - Accounting & eCommerce
Chelsea Krause is a writer who has specialized in accounting for over three years and is a QuickBooks Certified User. She has a BA in English & Creative Writing from George Fox University and studied at the University of Oxford as well. She has been quoted in Forbes and her work appears in Startup Nation, Small Business Bonfire, and Women on Business.
Chelsea Krause

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31 Comments

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    Sam

    Super very imformative

      This comment refers to an earlier version of this post and may be outdated.

      James Shaw

      Thank you for your article.
      I’m looking for an automatic MilageTracker and am interested in the trackers in Quicken Home & Business and QuickBooks.

      I’ve used Stride and like it because it allows you to use a “Start Driveing” button and a “Finished Driving” button. It tracks both milage, time worked and calculates the milage tax deduction with on going totals.

      Others chop up the data when you don’t move for 3 or 4 minutes and send an alert to you every time…. irritating.

      Does Quicken H&B and/or QuickBooks Self-Employed function like Stride AND sync it from their phone app GPS tracker to their financial software?

      Thank you

        This comment refers to an earlier version of this post and may be outdated.

        Chelsea Krause

        Hi James,

        In theory, QuickBooks Self-Employed is supposed to have this function; however, the last time we reviewed QuickBooks Self-Employed there were a lot of user complaints about the mileage tracker not working in the correctly. Granted, there are some users who report positive experiences with the app, so it still might be worth a shot (especially if QuickBooks has updated the app to resolve the previous issues). As far as I know, mileage has to be entered manually into Quicken Home & Business.

        If QuickBooks has worked out their mileage tracking kinks, that is probably your best bet, but I’ll leave this open for any other readers who may have found a good solution to this.

        Best of luck,

        -Chelsea Krause

          This comment refers to an earlier version of this post and may be outdated.

          Dave L

          Thanks for the info Chelsea ~ well written and informative.

          I have a question about using a property as an office. I am looking at purchasing a small condo (about 350 sf) and using this only as an office. I would be living in another condo, so the smaller space would only be used for working. Would the entire cost of this property be deductible?

            This comment refers to an earlier version of this post and may be outdated.

            Chelsea Krause

            Hi Dave,

            Thanks for reaching out! So long as the space is used solely for business purposes, you should be able to write it off in the same way you would write off a business rental. With business rentals, generally the cost of rent and utilities are deductible. However, I would check with your accountant to be certain and to learn which records you’ll need to keep in order to prove that you qualify for this deduction.

            Best of luck,

            -Chelsea Krause

              This comment refers to an earlier version of this post and may be outdated.

              Cathy Regala

              Very Informative post. What about Renting or Leasing a commercial office space, I’m sure the Rent/Lease can be deducted as well?

                This comment refers to an earlier version of this post and may be outdated.

                Chelsea Krause

                Hi Cathy,

                So long as the space was used solely for your business you should be able to deduct that as well!

                Best wishes,

                -Chelsea Krause

                  This comment refers to an earlier version of this post and may be outdated.

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