When you understand the rules, you gain more control over the outcomes, and taxes are no different.
At your level, financial decisions are about more than short-term savings; they’re about alignment, efficiency, and long-term strategy. Leveraging business write-offs effectively allows you to reduce unnecessary tax exposure and keep more capital working toward your goals.
Put simply, a tax write-off is a qualified expense that reduces your taxable income. While the concept is straightforward, the opportunities often go unnoticed, even among successful business owners.
Let’s take a closer look at eight of the most common tax deductions that may help you minimize tax exposure and keep more of your earnings working for you.
1. Employee Salaries
If you pay yourself, your spouse, or your employees a salary, those wages are generally tax-deductible. In fact, payroll is usually the largest tax-deductible expense for business owners, particularly owners of S or C corporations.
However, if you operate as a sole proprietor, LLC, or partnership LLC and not as an incorporated business entity, your wages may not be tax-deductible. LLCs do not have the same payroll requirements as corporations, and owners will get taxed on the profits of the LLC, whether they keep the funds in a business bank account or move them to a personal account to pay themselves. You can also make an election to tax your LLC as an S-corporation and potentially have some income taxed at preferential rates.
But if you do operate a corporation and run payroll, it may be worth considering employing your spouse through the business. Doing so would enable you to contribute to a 401(k) or profit-sharing plan on their behalf. In fact, you could have them contribute their entire salary to the retirement plan, while you make a matching contribution on the business side (which again, would be deducted as a business expense).
Another benefit? As a corporation with payroll expenses, you will be able to deduct your business’s share of FICA taxes (Social Security and Medicare), though they will still be taken out of your and your employees’ wages.
2. Office Space
Renting office space is often one of the larger recurring expenses for a business, and fortunately, it’s also fully deductible. Whether you’re leasing a private office, paying for a coworking membership, or maintaining a larger warehouse, as long as the space is used exclusively for business, the cost can typically be written off.
What If You Work From Home?
The rules shift a bit when your office is inside your home. The IRS does allow a home office deduction, but it comes with stricter requirements.
If part of your home is used exclusively and regularly for business, you may be able to deduct a portion of your housing expenses—things like mortgage interest, rent, utilities, insurance, cleaning services, and HOA fees. The deductible amount is generally based on the percentage of your home devoted to business. For instance, if you use a 200-square-foot office in a 2,000-square-foot home, you may be eligible to deduct 10% of those qualified expenses.
For those looking for a simpler way to calculate the deduction, the IRS safe harbor method offers a flat rate of $5 per square foot, up to 300 square feet. It’s an easier option that avoids the need to track actual home expenses, though it may result in a smaller deduction depending on your situation.
It’s important to note that, regardless of how you calculate the home office deduction, the space must be dedicated to business. A dining table, guest room, or shared living area won’t meet the IRS’s definition unless it’s used solely for work.
3. Vehicle Usage
If you need to use your car or a company vehicle for business, you have some options in terms of what you choose to deduct.
You can either save your receipts and deduct the actual expenses accrued during the year (gas, maintenance, insurance, and depreciation) or you can use the standard mileage rate set by the IRS each year. In 2025, for example, the standard mileage rate is $0.70 per mile. If you drove 1,000 miles in 2025 for business, the standard mileage rate would allow you to deduct $700 for vehicle use.
Depending on your line of work and revenue, you might consider purchasing a vehicle exclusively for business use. Your company vehicle will depreciate over time, and that depreciation can be deducted, though the deduction is spread out across several tax years. If you go this route, just remember to maintain clear records that distinguish between personal and business use in case the IRS comes asking for proof of use.
4. Insurance
If you have insurance policies to protect your business, you can deduct those premiums. This includes:
- General liability
- Professional liability (E&O)
- Workers’ compensation
- Property insurance
- Business interruption coverage
If you own a corporation and offer your employees (or yourself, if you’re a solopreneur) health insurance, those premiums can be paid through the business and deducted as well. Some self-employed individuals who meet certain requirements may be able to deduct their premiums as well.
5. Equipment and Supplies
This write-off is pretty straightforward—if you need a certain piece of equipment or supplies to run your business, keep track of your receipts and write off the expense.
Most office equipment and supplies are deductible as ordinary business expenses. However, if you make larger purchases (computers, machinery, or tools), they may need to be capitalized and depreciated over time, similar to a vehicle purchase. This will depend on how much the item costs and how long you expect to use it. That being said, you may be able to take a Section 179 deduction instead, which is an immediate deduction for depreciating assets.
6. Continuing Education
If you’re taking classes, attending workshops, or participating in industry conferences to improve your business knowledge and skills, any related expenses may be deductible. This includes tuition, registration fees, textbooks, and even travel-related costs associated with attending the event.
7. Marketing
Most business owners need to shell out a bit of cash to market or advertise their business. Whether you opt for more traditional radio and TV ad spots, mailers, or modern digital campaigns, you are allowed to deduct most costs associated with marketing and advertising.
This also includes things like:
- Branded merchandise
- Website development
- Business cards
- Brochures and print supplies
- Google ads
8. Meals
Business meals related to your business can also qualify for a tax deduction, though the rules are a little complex. Generally, you can deduct 50% of the cost of business-related meals, including a client lunch, team outing, or a meal while traveling for work.
To qualify, the meal must not be considered lavish or extravagant, and business must be discussed during the meal. Keep records of the date, location, amount spent, and the purpose or context of the meeting. You may need to provide some justification for the expense in the event your business is audited.
Looking Ahead to 2026 and Beyond
It’s important to remember that tax laws are subject to change. For example, many of the provisions introduced under the Tax Cuts and Jobs Act (TCJA) of 2017 are set to expire after 2025. As we approach 2026, keep an eye out for potential changes or new legislation that could impact your deductions and tax planning strategy.
While the list above is fairly extensive, it doesn’t cover every possible write-off. You may qualify for other deductions depending on your industry, business structure, and unique situation. And if you haven’t already, connect with a qualified CPA and financial professional to help ensure you’re taking full advantage of what the tax code allows.
If you’d like to learn more about incorporating proactive tax planning into your greater financial plan and business strategy, we invite you to reach out to our team and schedule time to talk.
Sean Gerlin, CFP®, CPWA®, ChFC®, CLU®, is the Founder and Principal of Envision Wealth Planners, a fee-only financial advisory firm based in the greater Orlando area. Sean specializes in helping high-income families, business owners, and commercial real estate executives align their wealth with their values through a comprehensive Financial Life Planning approach. Learn more about them at envisionplanners.com.
This material has been prepared in collaboration with Crystal Marketing Solutions, LLC, and has been edited with the assistance of artificial intelligence tools. The information presented is based on sources believed to be reliable and accurate at the time of publication. This material is for educational purposes only and does not necessarily reflect the views of the author, presenter, or affiliated organizations. It should not be construed as investment, tax, legal, or other professional advice. Always consult a qualified professional regarding your specific situation before making any decisions.