Are you looking for ways to save taxes on your year end tax return? If you are a small business, you might already know that you can write off your work vehicle costs, any phones you use for work, and any office space costs (which can include your home if you use it as an office).
Yes, I needed a 4 foot projector screen for my home office…
But there are some other, less well-known tax deductions that are commonly missed, and they are often overlooked by small businesses without an accountant. Some of these write offs include carrying costs, which are costs like interest paid on an investment loan you withdrew to purchase other investments, and even safety deposit box fees.
Better yet, did you know that you can write off fees paid to an accountant? That’s right, if you hire Dome Duong to work our accountancy magic on your small business, you will save so much money on taxes that hiring us will practically be free!