Small Business Taxes

It depends on the type of kit — a basic, single-use radon test kit is deducted as a consumable supply, while a reusable continuous radon monitor is treated as equipment, either deducted immediately under Section 179 or depreciated over time. Simple charcoal or short-term passive radon test kits, the kind sent to a lab after a short testing period and then discarded, are consumable supplies, deducted in full each time you purchase and use one for a client inspection, similar t

Yes — a portable table cart used to transport a massage table between client locations is a deductible business expense for mobile massage therapists, treated the same as any other piece of equipment used to run your business. A table cart exists specifically to make it possible to move a massage table efficiently and safely between appointments, which makes it a direct, ordinary cost of running a mobile practice rather than a personal item. Depending on the cost, it may qual

Yes — a client portal or secure file-sharing subscription used to exchange financial documents with clients is a deductible business expense, since it's a direct tool for delivering your services securely and professionally. Bookkeepers handle sensitive financial information, which makes a secure file-sharing or client portal system less of a convenience and more of a professional necessity. Whether you use a dedicated bookkeeping client portal, a general secure file-sharing

It depends on the cost and how you choose to treat it — most facial beds qualify for Section 179, which lets you deduct the full cost in the year of purchase, but you can also choose to depreciate it over several years instead if that works out better for your specific tax situation. A facial or treatment bed is considered equipment rather than a supply, since it's a higher-cost item expected to last for years rather than being used up. Under Section 179, equipment like this

Beyond mileage, real estate agents can deduct a wide range of costs tied to running their business, including marketing, MLS and association fees, licensing, and even a portion of their home if they maintain a dedicated office. Marketing is often one of the largest categories for agents — professional photography for listings, staging costs, yard signs, postcards, and paid social or search ads are all ordinary business expenses. MLS dues, brokerage desk fees, and association

Most DoorDash drivers should set aside 25–30% of their earnings for taxes, though the right number depends on your total income, deductions, and tax bracket, since self-employment tax stacks on top of regular income tax. When you drive for DoorDash, no one withholds taxes from your pay the way an employer would for a W-2 job. That means you're responsible for both income tax and self-employment tax, which covers Social Security and Medicare and currently runs 15.3% of your ne

Yes — design software subscriptions, computer equipment, and other tools used for client work are deductible for independent graphic designers, but personal-use equipment or software you'd have regardless of freelancing doesn't qualify. Subscriptions like Adobe Creative Cloud, Canva Pro, or font licensing used for client projects are ordinary business costs, so the full subscription fee is deductible as long as it's used for work. Larger purchases, like a new laptop, monitor,

Yes — a dedicated home office, computer equipment, and software used for client work are all deductible for independent IT consultants, as long as they're used regularly and specifically for the business. If you work from a space in your home used exclusively for client work, you can use either the simplified home office method ($5 per square foot, up to 300 square feet, for a maximum of $1,500) or the regular method, which applies your actual business-use percentage to rent

Yes — mileage driven between client homes for walks is deductible for independent dog walkers, and for walkers who cover several neighborhoods in a day, it's often the single biggest deduction available. You can calculate this mileage using either the standard mileage rate (a flat amount per business mile) or actual vehicle expenses, whichever works out better for your situation. Most dog walkers come out ahead using the standard mileage rate simply because of how much short-

Yes — sound equipment, instruments, and travel to gigs are deductible business expenses for independent DJs and musicians, but personal listening gear or instruments you don't use professionally don't qualify. Speakers, mixers, turntables, microphones, and instruments used to perform paid gigs are ordinary business costs, so they're deductible. Bigger purchases, like a full sound system, may qualify for Section 179, allowing you to deduct the full cost immediately in the year

Errors and Omissions Insurance and Supplies? Yes — E&O insurance, notary bonds, stamps, and signing supplies are all deductible business expenses for independent notary signing agents, since each one is required or ordinary to run the business. Because notary work carries legal liability if a signing is ever done incorrectly, most notaries carry Errors & Omissions insurance and a state-required notary bond. Both are fully deductible, along with your notary commission fees, se

Yes — cleaning supplies, equipment, and even a portion of your vehicle costs are deductible for independent cleaning contractors, as long as they're used to service clients rather than your own home. Because cleaning is a supply-heavy business, this is often one of the larger deduction categories contractors have. Products like disinfectants, mop heads, vacuum bags, and trash bags used on client jobs are fully deductible. Bigger equipment, like a commercial vacuum or a carpet

by BossTax Admin | Jan 24, 2025 | Financial Planning, Tax Blog, Tracking Tips | 0 comments Reporting your solo business at tax time If you are in business for yourself, you typically use the Schedule C to report your business income and expenses. The Schedule C is included in your personal income taxes, which are filed on the IRS Form 1040. You can use the Schedule C to report your income and expenses from any self-employed work you do, or work you do in a formal LLC part

by Enrolled Agent at BossTax | Jun 20, 2025 | Tax Blog, Tracking Tips | 0 comments Yes — missing the federal tax filing deadline can trigger monthly penalties and interest, but submitting your return as quickly as possible reduces overall costs and stops late fees from accumulating. Whether you missed the April filing date due to unforeseen personal circumstances or simply got overwhelmed collecting business records, the IRS imposes two distinct charges: a failure-to-file p