Today we are wrapping up our series on how to save you money this tax season. So far we’ve talked about the benefits of our too good to be true trade show display rental program, Wednesday we were all about different ways to save you money while on the road, and today we’re going to finish things out with tax deductions that are sure to help you get a larger refund. For those of you sweating it out trying to get that paperwork done for the end of the day today, take a deep breath and relax. Due to a holiday the usual April 15th deadline has been move to Monday the 18th so you’ve still got a few more days to wrap up any loose ends and get them filed. For small business owners this should give you plenty of time to make sure you’ve taken all the deductions available to you.
3 Must Take Tax Deductions For Small Business Owners
Travel Expenses- Many people think that in terms of travel expenses this simply means the literal cost of going somewhere such as a plane tick, cab ride, etc….but in fact pretty much everything associated with the trip can count as a deduction. This could include your hotel stay, food, dry cleaning, shipping that trade show display. Plus those of any employee you take with you.
Advertising Deductions- Did you sponsor a little league team this year? Purchase a new custom designed banner to hang on your store front? Maybe you ordered some new brochures or business cards. Advertising is a great source for tax deductions. Think of all the little things you do to promote your business including advertising at local restaurants, sending out coupons, or radio ads. The only thing you need to make sure you can do is prove you did the promotion.
Entertaining Clients- One major reason you go to trade shows is to meet new people in hopes of generating sales. When meeting a potential client it’s always better to get them away from the crowds where you can speak one on one without a million distractions. This could mean dinner at a fancy restaurant, catering a private lunch, or showing your appreciation by giving them a couple of tickets to that night’s ball game. Make sure to always get a receipt and note who attended and what the circumstances were.
Nobody has a harder time getting through tax season then the small business owner. The folks at Godfrey understand this and that’s why we do our best to make it easier on you by offering such programs as our trade show display rental system and thousands of custom designed exhibits that are sure to help you generate sales.