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Tax Deduction Consulting: Business Deductions Conway AR

Whether you are an established company with multiple offices or working out of your home, significant business deductions exist for your business. Following is a listing of deductions that are common to most businesses regardless of the specific service or products being supplied.

Jackson Hewitt
(501) 336-8686
625 Salem Road
Conway, AR

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Liberty Tax Service
(866) 871-1040
1780 Old Morrilton Hwy
Conway, AR

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H&R Block
(501) 679-7080
57 S BROADVIEW STE 102
GREENBRIER, AR

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H&R Block
(501) 835-4247
4101 E KIEHL AVE
SHERWOOD, AR

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Tax Ladies
(501) 834-6280
3415 E Kiehl Ave Ste 3
Sherwood, AR

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H&R Block Inside Oak Street Shoppes
(501) 327-0565
855 E OAK ST STE B
CONWAY, AR

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Jackson Hewitt
(501) 764-0101
1008 East Oak Street
Conway, AR

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Jackson Hewitt
(501) 796-3940
1122 Main Street Ste 11
Vilonia, AR

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Jackson Hewitt
(501) 834-3636
8611 Hwy 107
Sherwood, AR

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Liberty Tax Service
(866) 871-1040
3901 E Kiehl Ave # H
Sherwood, AR

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Tax Deduction Consulting: Business Deductions

Common Business Deductions

Whether you are an established company with multiple offices or working out of your home, significant business deductions exist for your business. Following is a listing of deductions that are common to most businesses regardless of the specific service or products being supplied.

Commong Business Deductions

  • Office expenses
  • Rent or lease payments
  • Advertising
  • Costs of goods sold
  • Depreciation
  • Insurance costs
  • Utilities
  • Wages of employees
  • Employee benefits
  • Retirement plans
  • Payments to independent contractors [file form 1099]
  • Accounting and professional services
  • Communication expenses
  • Commissions
  • Travel expenses
  • Vehicle expenses
  • Business-related Meals and Entertainment
  • Uncollected receivables
  • Bank fees on bank accounts
  • Interest payments

While the above list should provide you with a solid means for lowering your taxable revenues, certain expenses cannot be deducted. Following is a list of common expenses that do not help you bottom line from a tax perspective.

  • Personal expenses
  • Life insurance in most cases
  • Partnership organization expenses
  • Hobby expenses
  • Commuting to work and home expenses
  • Gym dues
  • Contributions to Roth IRA
  • Examination fees for professionals
  • Fines and penalties related to violations of the law
  • Gifts to employees or business contacts exceeding $25
  • Traffic tickets
  • Parking tickets
  • Political contributions
  • Fees paid for lobbying
  • Expenses paid for lobbying
  • ...

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