Deductions You Should Not Miss
Audio Managing Your Money

Deductions You Should Not Miss

Deductions You Should Not Miss

Every dollar you deduct saves you 25-35 cents in taxes.

Home office: Measure grooming space as percentage of home. 200 sq ft in 2,000 sq ft home equals 10%. Deduct 10% of rent, utilities, insurance, property taxes.

Equipment: All grooming equipment, shampoos, supplies, towels. Section 179 lets you deduct full cost in year of purchase.

Other: Business insurance, software, continuing education, vehicle expenses, marketing, professional memberships, phone bill.

Keep receipts for everything. No receipt equals no deduction if audited.