This month is our Guest Blogger for March is Wendy Uken. Wendy is a designated agent for the IRS and a QuickBooks Pro Advisor. She is also the co-founder of the Gonzales Tax Group in California. You can visit her website at http://www.GonzalezTaxGroup.com.
As mentioned before, you can deduct almost anything if its considered “ordinary” and “necessary” to your business. Here is a list of some unique expenses you can deduct, and some common expenses that are often overlooked:
If you have a guard dog or if you own an animal that serves a useful purpose for your business you may be able to write off expenses associated with the care and feeding of the animal such as: food, vet bills, training and toys. Sadly, these deductions do not extend to family pets.
If you’re a defendant in a lawsuit and you’re ordered to pay settlements, then you may be able to deduct the legal fees and payments associated with the court-mandated settlement.
Business trips that are “ordinary” and “necessary” to your business may be deductible, depending on a case-by-case basis.
If you have a home-office then you may be able to deduct part of your mortgage interest, insurance premiums and utility bills.
Really, the things you can deduct for your business are endless and bountiful if they are “ordinary” and “necessary”. Of course, the IRS may not accept every deduction claimed so its important that you consult a professional before claiming every expense as a deduction. As Enrolled Agents (IRS Designation) and QuickBooks ProAdvisors, my team and I can represent individuals and businesses in all 50 states and we would be happy to work with you directly. Simply visit Gonzalez Tax Group
and complete the “Contact Page” or give us a call at 818-539-7014.
Author: Wendy Uken
Enrolled Agent (IRS Designation) & QuickBooks ProAdvisor
Co-Founder of Gonzalez Tax Group