As you manage your own online business, you often need to pay a lot in expenses just to keep everything running smoothly.
But what if you could keep more of your hard-earned cash?
That’s where tax deductions come in.
Some of these deductions may surprise you.
1. Packaging Materials
As you send out your products all over the world, you’ll likely be spending money on all sorts of packaging materials.
That can include boxes, tape, labels, paper, bubble wrap, and more.
So if you pack and ship your own stuff, all those items are tax deductible.
2. Cell Phone & Internet
You probably use the internet a lot. After all, that’s where you conduct your business.
The same goes for your cell phone. How much time do you think you spend every month on your phone dealing with business matters?
You may be able to write off some of your cell phone and internet bill.
3. Home Office Expenses
Do you work from home?
Get ready for some great ecommerce tax deductions.
If you have a home office, you may be able to deduct some of your rent or mortgage.
But to take advantage of this deduction, you need to meet some requirements.
First, you need to use your work area only for business, not anything else. So working from your kitchen wouldn’t apply.
If you satisfy all of that, you could be good to go with your deduction.
So if you think about it, you may be able to deduct your ClickFunnels expenses as well.
Look at that! ClickFunnels can help you earn more money in more ways than one!
5. Bank Fees and Interest Payments
Some banks will charge you to use that account. If that’s the case, you may be able to deduct those fees.
Pay careful attention to these amounts and record them for tax purposes.
6. Advertising and Marketing
If you advertise, it may count as a tax deduction.
If you use a service which places ads, that can count as well.
The costs don’t have to be limited to what you pay to place or promote an advertisement. You can even deduct the amount you paid to write and design your ads.
7. Professional Accounting Services
If you get more help from tax professionals, you may deduct that cost too!
You can extend this idea to any other professional service you use for accounting purposes.
Work With Tax Deduction Experts
Always consult with the experts to get more information and see where the most lucrative tax deductions are.