The Most Common Deductions Small Business Owners Miss
Your Quick-Start Guide to Saving More at Tax Time
June 2025
As a small business owner, you're probably juggling a million things — and tracking every deductible expense isn’t always at the top of your to-do list. But missing these write-offs? That’s like leaving money on the table.
In this post, I’m highlighting some of the most commonly overlooked tax deductions so you can keep more of what you earn and feel confident at tax time.
I’m truly passionate about helping small business owners uncover missed opportunities. I take the time to understand your unique business, so we can confidently organize your finances, track every deduction, and make smarter tax decisions together.
1. Home Office Deduction
If you work from home, you may be eligible to deduct a portion of expenses like:
Rent or mortgage interest
Utilities
Internet
Home insurance
Repairs and maintenance (for the office area)
💡 Just make sure the space is used exclusively and regularly for business.
2. Business Mileage & Auto Expenses
Whether you’re driving to meet clients or pick up supplies, your vehicle use can be deductible.
You can deduct:
Miles driven for business (keep a log!)
Tolls and parking
Oil changes, maintenance, and insurance (if using actual expenses)
💡 Tip: Use an app like MileIQ or Everlance to automate mileage tracking.
3. Meals & Coffee Meetings
You can deduct 50% of meals when:
They involve a client, vendor, or employee
The meal is business-related (not personal!)
You keep a receipt with the date, amount, and business purpose
💡 Tip: Use your calendar to record who you met with and what you discussed.
4. Office Supplies & Software
Every item you buy for your business can add up to big deductions. This includes:
Office supplies (paper, pens, etc.)
Business subscriptions (like Canva, Zoom, QuickBooks)
Tech equipment (monitors, tablets, external drives)
5. Professional Services
If you hire professionals to support your business, their fees are typically deductible:
Bookkeeping and tax prep (yep, even your CPA!)
Legal fees
Business coaching or consulting
6. Business Insurance
Premiums you pay for coverage are deductible, including:
General liability insurance
Professional liability
Business interruption insurance
💡As long as the insurance protects your business, it counts.
7. Education & Training
If it improves your skills in your current business, it qualifies. Think:
Online courses
Webinars
Conferences
Industry memberships
8. Phone & Internet
If your phone or internet is used for business, a portion is deductible.
💡 Tip: Keep a usage log or use a reasonable estimate based on actual use.
9. Bank & Payment Processing Fees
Commonly overlooked but totally deductible:
Stripe, Square, and PayPal fees
Monthly business banking charges
Credit card interest (business use only)
Bonus: Start-Up Costs
If you’re launching your business, you might be able to deduct up to $5,000 in startup expenses, including:
Branding and website design
Legal fees
Advertising
Market research and business planning
Final Tip: Track Everything
Tax deductions only help you if you can prove them. That means keeping your books organized and up to date all year long.
If that feels overwhelming, don’t worry — I’ve got you.
Want Personalized Help?
Click “Book a call” for a 30 minute discovery call or visit my Instagram or Facebook page @bloombalanceaccounting for a 30 minute free consult.
Let’s make sure you’re not leaving money on the table this year!
