February 1st officially marked the beginning of tax season. Being a business owner allows you to claim many deductions. If you are not a business owner yet, take a look at all the potential deductions you can claim on your yearly taxes!
A portion of your rent/mortgage and utilities
Car expenses (car note, insurance, maintenance, parking)
Conferences and professional membership fees
Travel and lodging expenses related to attending conferences
Dining expenses while traveling
Personal grooming costs (haircuts, manicures, etc)
Entertainment costs for potential clients and customers
Insurance (Health, dental, property, etc)
Losses- debt that you could not collect from customers
Website hosting and website
Business start-up costs
And much, much more!
This list isn’t all-inclusive, this is just what I can think of off the top of my head. Get a good accountant that can help you maximize your business status during tax season. The bottom line is, the more you deduct, the less your yearly income-meaning the less tax you pay! If this doesn’t motivate you to start your own business, I don’t know what will!