Deductions You Should Not Miss
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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.