Owners Maximizing tax deductions can help reduce taxable income and save money. Here are some common deductions:

• Home Office Expenses: A portion of rent, utilities, and internet costs if you work from home.
• Business Travel: Flights, accommodations, and meals related to business activities.
• Equipment Purchases: Computers, office furniture, and software.
• Vehicle Expenses: Mileage, gas, and maintenance costs for business-related travel.
• Marketing & Advertising: Website costs, social media ads, and promotional materials.

Tips for Maximizing Deductions and Staying Compliant

• Keep detailed records and receipts for all deductible expenses.
• Separate personal and business finances (bank and credit cards) to maintain clear documentation.
• Stay updated on tax laws and consult with a tax professional if needed.