What Are The Best Deductions?

Post by 
Adam Meeks
What Are The Best Deductions?
January 3, 2021
Adam Meeks
D

id you know that putting a logo on your car doesn't make it a tax deduction? But you can write-off the cost of the sticker...

You don't pay taxes, they take taxes. - Chris Rock

Misunderstanding

Taxes aren't the highlight of my year, but they may not be as bad as they're made out to be.

Here's a few things I found interesting.

Not Deductible

Food

  • Planning to show your client a good time, and lower your tax liability? Apparently this is frowned upon.

Entertainment

  • Probably don't hold that "business meeting" at Disney World unless you don't mind a bit of scrutiny from your IRS friends.

Education

  • This one is two sided. You can write-off books, seminars, etc., but only for content relating to your current career. I suppose neither your boss or the IRS feel like supporting your fresh start.

Phone

  • If you want to write-off your personal cell phone then get ready to itemize it's use. (I think I'll pass on this one.)

Advertising is Deductible

Media

  • Internet
  • Radio
  • TV
  • Print
  • Signs

Marketing

  • Promotional Items
  • Websites
  • Videos
  • Posters
  • Business Cards

Online

  • Newsletters
  • Pay-Per-Click Advertising
  • SEO services
  • Social Media Management
“Money is a terrible master but an excellent servant.” – P.T. Barnum

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