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Top 10 Small Business Tax Deductions


The Internal Revenue Service offers business owners a fair number of small business tax deductions — if you know where to find them. Here are 10 small business tax deductions to help you navigate through the maze of write-offs.

1. Start-up Cost Deductions

small business owner

You can deduct up to $5,000 in start-up and $5,000 in organizational costs for the first year of business. These deductions apply to expenses paid or incurred after Oct. 22, 2004. The rules differ for expenses before that date or if your costs exceed $50,000. Expenses that are not deducted can be amortized over a 180-month period, which begins when you open your business. You can write off or amortize market research, advertising, employee training, business-related travel, legal advising and other costs.