Business Tax Recovery Logo


Tax Deduction Consulting: Business Deductions Lahaina HI

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.

Burstyn & Associates Business Consultants Inc
(808) 661-3961
991 Limahana Pl Ste H4
Lahaina, HI
 
Shue C Douglas
(808) 661-3231
425 Ilikahi St
Lahaina, HI
 
H & R Block
(808) 935-2799
910 Honoapiilani Hwy Ste 11
Lahaina, HI
 
Jmp Svc Inc
(808) 270-2710
811 Kolu St Ste 103
Wailuku, HI

Data Provided by:
Cheatham Jon B Cpa Llc
(808) 249-2720
2200 Main St Ste 504
Wailuku, HI
 
James & Associates Cpas Inc
(808) 667-9512
505 Front St Ste 222
Lahaina, HI
 
Hutchinson Paul M
(808) 244-7902
24 Market St
Lahaina, HI
 
Beck Robert Tax And Bookkeeping Service Inc
(808) 242-1553
2070 W Vineyard St
Wailuku, HI
 
Comte John M
(808) 244-8128
776 Analio St
Wailuku, HI
 
Courter Boeckmann & Associates LLC
(808) 871-1880
220 Lalo St Ste 201
Kahului, HI
 
Data Provided by:

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
  • ...

Click here to read the rest of this article from BusinessTaxRecovery.com