The Ultimate Small Business Tax Write-Offs Checklist (2024 Edition)

💸 The Ultimate Small Business Tax Write-Offs Checklist (2024 Edition)

Are you leaving money on the table? Every year, small business owners miss out on thousands in tax deductions simply because they don’t know what qualifies as a write-off. Not this year. We’ve got you covered with the ultimate guide to small business tax deductions for 2024 — plus a free downloadable cheat sheet to make tax time less taxing.

💼 What’s a Tax Write-Off?

A tax write-off (aka a tax deduction) is any ordinary and necessary expense for running your business, according to the IRS. But here's where most people get tripped up:

• Buying personal items and trying to write them off (nope).

• Forgetting to track receipts or mileage (big mistake).

• Missing common deductions because they just didn’t know better.

The bottom line? If you spent money for your business, there’s a good chance it’s deductible — at least partially.

✅ Fully Deductible Expenses (100% Write-Off)

These are your all-star deductions. Track them, save receipts, and you’ll thank yourself come tax season:

• 🍽️ Business Meals (with clients or during business travel)

• 💻 Software & Subscriptions (QuickBooks, Canva, CRM tools)

• 📈 Marketing Costs (ads, website, email platforms)

• ⚖️ Legal & Professional Fees (accountants, consultants)

These go straight into your tax return as 100% deductible — no math gymnastics required.

🚗 Partial Deductions You Don’t Want to Miss

Some expenses are only partly deductible, but still well worth tracking:

• 🚙 Vehicle Use – If you drive for business, track mileage or actual expenses (pro tip: apps like MileIQ help).

• 🏠 Home Office – If you have a dedicated workspace, a portion of rent, utilities, and internet can count.

• 📱 Cell Phone Bills – If you use your personal phone for business, deduct the business-use percentage.

• ✈️ Business Travel – Flights, hotels, Uber rides — if it’s for business, it’s likely deductible.

💡 Pro Tip: Turn Vacations Into Write-Offs

Yep, you read that right.

If you plan smart, you can turn parts of a vacation into a legitimate business trip. Here's how:

1. Schedule meetings, conferences, or networking events.

2. Document your itinerary and keep receipts.

3. Deduct business-related portions — airfare, hotel (for business days), meals, etc.

Don’t blur the lines too much, but used correctly, this strategy can make your next beach trip a little sweeter.

📥 FREE Download: Small Business Tax Deductions Cheat Sheet

Want a printable version of this list — plus a few bonus deductions most people overlook?

👉 [Click here to grab your FREE cheat sheet] (We’ll send it straight to your inbox.)

Bonus: Get added to our tax tips newsletter — real talk, no fluff.

💳 Need Bookkeeping Help? We've Got You

We’re affiliates for tools we actually recommend to clients:

• 💰 QuickBooks – For tracking income & expenses

• 📊 FreshBooks – Great for solopreneurs & freelancers

• 🧾 Bench – Bookkeeping done-for-you

Using quality tools can save time, reduce stress, and make audit-proofing a breeze.

🔍 Final Thoughts

Taxes don’t have to be scary. With the right knowledge (and a good checklist), you can:

• Save money

• Avoid IRS headaches

• And reinvest in your business

Want personalized help? Philly Tax Team offers tax planning, preparation, and resolution services built specifically for small businesses and real estate investors. Let’s talk.