This is one of the major small business tax write offs removed by the Tax Cuts and Jobs Act, according to the IRS, to make up for the lower tax brackets. You can no longer deduct the cost of client entertainment. To help explain the different situations, we’ll be following an example business owner, Frieda, as she pays her small business taxes and determines those tricky tax breaks for her store. Rather than creating a dry list of every single deduction, we tracked down the most common trouble spots for business owners. That’s why we put together this guide to small business tax write offs. It’s no wonder that roughly 44 percent of business owners feel like they could make better use of tax deductions and aren’t claiming everything they can, according to a QuickBooks Payroll survey. ![]() ![]() Buried in the hefty tome are some generous small business tax write offs, but if you don’t know about a potential deduction, that’s money your business misses out on. If you need help getting to sleep, try reading through the U.S.
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