![]() RECOMMENDED: 5 Small Business Tax Tips for Business Owners What Are Small Business Tax Deductions? Small business tax deductions (or write-offs) are business-related expenses that you can subtract from your taxable income. ![]() If you’re not fully aware of the long list of deductions you can claim, follow our guide to tax write-offs for small businesses below. But U.S tax code for small businesses can be complicated, and some laws are changing for tax year 2021. This can lower your taxable income and allow you to hold on to more working capital for your business. ![]() If you own a small business, one of the easiest ways to boost your profits is to make sure you are taking all the deductions you are entitled to on your tax return. ![]()
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