Taxes can feel like a maze, but here’s the good news: you don’t have to overpay. The secret? A small business tax deductions checklist. Think of this as your cheat sheet. Miss one deduction, and that’s money gone. Get it right, and you’re keeping more of what your business earned. Simple as that.
We’re going to go through everything step by step. You’ll get the One Big Beautiful Bill Act (OBBBA), learn about the qualified business income deduction, and see which write-offs you absolutely cannot forget. By the end, you’ll have a checklist you can actually use, this stuff saves money.
What’s the One Big Beautiful Bill Act Anyway?
So, you’ve heard of the One Big Beautiful Bill Act summary, right? Don’t worry, it’s not as scary as it sounds. It’s basically rules that make deductions simpler and better for small businesses. The big deal here is the deduction for qualified business income. It’s like a little slice off your taxable income. More money stays in your business. That’s why understanding OBBBA now is better than figuring it out at tax time.
What Is EBITDA?
What is EBITDA? Sounds fancy, but it’s just earnings before interest, taxes, depreciation, and amortization. Basically, it’s a snapshot of your business performance before certain costs get added in. Why care? Because things like business interest and depreciation feed into it. If you want your small business tax deductions checklist to actually work, knowing this helps you make sense of your numbers.
The 15 Small Business Tax Deductions You Can’t Ignore
Now let’s get into the real stuff. These are the write-offs you absolutely want to have on your radar.
1. Office Expenses
- Rent, electricity, internet, office supplies—all deductible.
- Home office? Deduct part of your bills too.
- Keep receipts—it’s a lifesaver at tax time.
- Even small items add up fast.
2. Track Your Expenses
- Track small business expenses weekly.
- Use apps, spreadsheets, or accounting software.
- Break it down: office, travel, equipment.
- Makes sure nothing gets missed.
3. Vehicle Costs
- Gas, repairs, insurance—deduct if it’s business-related.
- Keep a mileage log.
- Decide between actual expenses or standard mileage.
- Saves a lot of headaches later.
4. Travel and Meals
- Flights, hotels, Uber, rental cars—all deductible if for business.
- Meals are usually 50% deductible.
- Write down why you were there: client meeting, conference, training.
- Keep receipts. Trust me.
5. Business Interest
- Loans, credit cards, lines of credit—interest is deductible if business-related.
- Track payments monthly.
- Only the business portion counts.
- Small thing, big savings.
6. Employee Wages and Benefits
- Salaries, bonuses, health insurance—deductible.
- Retirement contributions count too.
- Keeps employees happy and lowers taxes.
- Keep clear records.
7. Equipment and Depreciation
- Computers, machinery, furniture—write them off.
- Deduct over time or all at once with Section 179.
- Repairs and upgrades count too.
- Track dates and costs.
8. Professional Services
- Accountants, lawyers, consultants—deductible.
- Essential for tax advice and peace of mind.
- Keep invoices handy.
- Small investment, big payoff.
9. Marketing and Advertising
- Ads, website, brochures, events—all deductible.
- Track expenses and ROI.
- Social media campaigns count too.
- Marketing grows your business and saves taxes—double win.
10. Education and Training
- Workshops, certifications, courses—deductible.
- Helps improve skills and business value.
- Keep proof of payment.
- Don’t skip this—it’s a deduction that pays off long-term.
11. Insurance Premiums
- Liability, health, property, workers’ comp—all deductible.
- Track renewals and payments.
- Big help for reducing taxable income.
- Keep organized.
12. Licenses and Fees
- Business permits, software, professional licenses.
- Annual dues count.
- Trade association memberships too.
- Save invoices for easy filing.
13. Internet and Phone
- Business use of internet, apps, phones—deductible.
- Track personal vs. business usage.
- Record bills monthly.
- Every little bit counts.
14. Rent and Utilities
- Office, warehouse, coworking space rent—deductible.
- Utilities like water, electricity, heating count.
- Track bills carefully.
- Full deduction if documented properly.
15. Home Office Deduction
- Only for a dedicated space used regularly for business.
- Deduct square footage proportionate to your home.
- Include repairs, maintenance, utilities.
- Follow IRS rules—don’t guess here.
How to Track Expenses Without Going Crazy
Tracking small business expenses doesn’t have to be a nightmare:
- Use software or spreadsheets.
- Categorize weekly.
- Keep digital copies of all receipts.
- Review your small business tax deductions checklist at least quarterly.
Quick cheat sheet:
| Deduction Type | Example Expenses | Notes |
| Office Expenses | Rent, utilities, supplies | Home or commercial office counts |
| Vehicle | Fuel, repairs, insurance | Keep mileage logs |
| Travel & Meals | Flights, hotels, meals | Meals 50% deductible |
| Employee Wages | Salaries, bonuses, benefits | Fully deductible |
| Marketing & Advertising | Ads, social media, brochures | Track ROI |
| Professional Services | Accounting, legal fees | Keep invoices for proof |
Conclusion:
Following a small business tax deductions checklist isn’t about being sneaky. It’s about being smart. Track small business expenses, claim your qualified business income deduction, and take every business expense deduction you qualify for. You’ll avoid mistakes, save money, and keep more of your hard-earned cash.
Frequently Asked Questions
What is a small business tax deductions checklist?
It’s a list of all eligible business expenses that lower taxable income and save money every year.
How often should I track expenses?
Weekly or monthly is best. Keeps you organized and prevents missed deductions.
Can I deduct home office expenses?
Yes, but only if the space is used regularly and exclusively for business.
What is the qualified business income deduction?
It lets eligible small businesses deduct up to 20% of qualified business income.
How does the One Big Beautiful Bill Act affect deductions?
OBBBA changes rules for deductions, including qualified business income and certain business expenses.
Are business meals deductible?
Yes, typically 50% for meals with clients, employees, or during business travel.
How does business interest deduction work?
Interest on loans, credit cards, or lines of credit is deductible if it’s business-related.
Can marketing costs be deducted?
Yes. Ads, events, brochures, and social media campaigns all qualify.
Why is tax planning important?
It helps use deductions correctly, avoid penalties, and maximize your business savings.
What is EBITDA?
EBITDA is earnings before interest, taxes, depreciation, and amortization. It shows business performance and affects deductions.
