Top 10 Small Best Business Tax Deductions
 When you own your own business, the tax deductions you can make will reduce the amount of taxes you will have to pay.
IRS and state laws change frequently, so being up to date on the latest rules regarding business tax deductions can help you maximize your deductible items and minimize your tax bill.
Check the following list of business tax deductions to be sure you haven't overlooked anything before you file.
1. Tax Deductions For Travel
Business trips, both from local and international can be deductible. The actual amount of your tax deductions will vary, but make sure you take any business trips you have made into consideration, including travel for training, for meeting with clients, or visiting vendors.
2. Tax Deductions For Your Business Vehicles
Generally calculated at 50 cents per mile, driving your vehicle for work can be listed as a tax deduction if you own your own business. You may also be able to claim both state property taxes and depreciation on your vehicle.
3. Tax Deductions For Entertaining
Looking to woo a prospective client? Take him or her out to lunch on the company's credit card, and write off a portion of the cost later.
4. Tax Deductions For Equipment Upgrades
If your laptop has produced the horrible "blue screen of death" recently, maybe it's time to upgrade, and get a tax deduction out of the deal. Same goes for the latest edition of Microsoft Office, Photoshop, or AutoCAD -- if you use it for work, of course.
5. Tax Deductions For Interest Costs
If you have borrowed money for your business, you may be able to deduct a portion of the interest you paid to your lender.
6. Tax Deductions For Donations And Charitable Contributions
Throw A Benefit Dinner And Donate the profits to a local charity, and write it off as a charitable contribution (this method also makes for great publicity!). Don't forget to deduct for items that your business offered for charitable auctions, or donated to charitable organizations.
7. Tax Deductions For Home Office Use
Working late hours in your alcove at home? Talk to your accountant to see if you can write off the desk, the high-speed internet, and even the printer ink. If you have an actual office in your home, you can deduct a percentage of your home and utilities as well.
8. Tax Deductions For Seminars And Conferences
Want to learn something relevant to your field? You can often deduct the cost of attending a seminar or other educational setting. You can also deduct fees for professional organizations and trade associations you belong to, as long as they are business related.
9. Tax Deductions For Postage And Shipping
When you send business-related snail mail, the postage you paid for can turn around and benefit you in your tax return. This category can really add up, so be sure you double check your postage and shipping receipts.
10. Tax Deductions For Books And Magazines
Magazine subscriptions and trade publications are deductible expenses. Don't overlook books—if you had to buy books to help you with any aspect of your business, they are deductible as well.
Bonus Tip:
Keep in mind anything you legitimately use to manage or market your business is a tax write off. To simplify your life, and make tax time a little less painful, save all of your invoices and receipts. The better your books and records are, the more tax deductions you will be able to find!
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