Are You Paying More in Taxes Than You Should?
Summary of What This Blog Covers:
- Uncover overlooked tax deductions that can reduce your taxable income significantly — This blog reveals ten commonly missed business expenses like software subscriptions, education, contractor payments, and home office use that are fully deductible when properly tracked and documented.
- Learn how each deduction works and what qualifies under IRS guidelines in 2025 — From retirement contributions and health insurance premiums to business meals and advertising, the blog explains what’s eligible, what’s not, and how a licensed CPA in Austin, Texas, helps you stay compliant.
- Understand the importance of accurate tracking, form filing, and tax strategy — The blog walks through how missteps like missed FBAR filings, forgotten 1099s, or misclassified expenses can trigger costly penalties and higher tax bills and how proactive planning prevents them.
- See how Insogna CPA helps business owners maximize savings through smart, customized tax planning — With full-service tax preparation, Form 2553 support, strategic deductions, and compliance guidance, Insogna CPA ensures you’re not tipping the IRS with missed opportunities.
Let’s be honest: filing taxes isn’t the fun part of running a business but overpaying taxes? That’s straight-up painful.
Most entrepreneurs we work with aren’t being reckless. They’re just missing deductions because no one ever told them what actually qualifies. You started a business to serve clients, not to become a tax code expert. But that’s why we’re here.
At Insogna CPA, a top-rated CPA firm in Austin, Texas, we specialize in helping small business owners (consultants, creatives, agencies, and more) maximize their deductions, reduce their tax liability, and keep more of what they earn.
If you’ve been Googling “tax preparer near me” or relying on tax software like TurboTax Online or Wave Accounting, you might be missing the deductions only a certified public accountant near you would catch.
Let’s dig into 10 business expenses you might not be deducting but should.
1. Software & Business Tools
(Yes, Your Subscriptions Count Even the $12 Ones)
You probably pay for more software than you realize. From design tools to scheduling platforms, they all serve your business and they’re all deductible.
What You Can Deduct:
- Accounting software: QuickBooks, Xero, WaveApp, ZohoBooks
- CRM & project management tools: HubSpot, Trello, Asana, ClickUp
- Marketing platforms: SEMrush, ConvertKit, Mailchimp, Zapier
- Design & productivity software: Canva, Adobe Creative Cloud, Loom
Annual or monthly subscriptions? Both count as long as they’re business-related.
Why It Matters:
These small charges often get missed when clients rely solely on TurboTax Free or other DIY platforms. Over time, this can result in $1,000+ in missed deductions.
How Insogna CPA Helps:
As your Austin, TX accountant, we ensure your tools are properly categorized, tracked, and deducted especially when they live in Stripe invoices or forgotten receipts.
2. Home Office Deduction
(Yes, You Can Deduct That Corner Office in Your Guest Room)
Working from home? You may qualify for the home office deduction but only if it’s done right.
What Qualifies:
- A designated space used exclusively for business
- Regular use for tasks like meetings, admin work, or operations
- Must be your principal place of business (unless you meet clients elsewhere)
Two Deduction Methods:
- Simplified: $5 per square foot (up to 300 sq. ft.)
- Actual expense: Proportional share of rent, utilities, insurance, and repairs
Caution: The IRS doesn’t count your kitchen table or shared living room corner.
How We Help:
We calculate your deduction under both methods, determine which yields better savings, and ensure you meet IRS standards. As a certified CPA in Austin, we also advise on how to integrate home office deductions into multi-entity S Corporation structures, where possible.
3. Business Meals & Travel
(Because Meeting Clients Over Lunch Still Counts)
Meals and travel related to business? You can deduct those—up to certain limits.
What’s Deductible:
- 50% of meals with clients, vendors, or employees
- 100% of lodging, airfare, rental cars, and business transportation
- Registration and ticket costs for industry events, conferences, and workshops
Not Deductible:
- Meals during personal errands
- Trips disguised as business retreats (unless well documented)
Tip: Keep an expense log with date, amount, business purpose, and who attended.
How a Tax Pro Near You Helps:
We set up a compliant system for tracking these expenses and make sure you don’t accidentally blend personal and business costs.
4. Marketing & Advertising
(Growth Costs Money So Write It Off)
Everything you spend on building visibility and acquiring customers is deductible.
Common Deductions:
- Social media ads: Instagram, Meta, TikTok, YouTube, LinkedIn
- SEO consultants, blog writers, and Google Ads
- Website design and branding
- Printing flyers, business cards, and signage
Common mistake? Forgetting to track ad spend or email software subscriptions.
Why Insogna CPA Is Different:
We help you capture these expenses in real time through integrated accounting systems and match them against business performance metrics. Something no tax software or DIY spreadsheet can do.
5. Education & Professional Development
(Yes, Even Business Coaching Could Be Deductible)
You’re learning. You’re improving. And if your education helps your current business? That’s a business expense.
What’s Deductible:
- Industry-specific online courses (SEO, design, marketing, etc.)
- Conferences and seminars
- Business coaching and mastermind programs
You can’t write off law school unless you’re a practicing attorney but you can deduct a marketing course if you’re a freelancer.
Our Approach:
We assess whether your investment qualifies and document it properly. Something your typical tax places near you won’t do unless you ask.
6. Internet & Cell Phone Bills
(Partial Deductions = Real Savings)
Let’s talk about your Wi-Fi and cell plan. If you use them for work? That portion is deductible.
Deductible Percentages:
- VoIP and business lines: 100%
- Home internet and personal phone plans: % of business use (not 100%)
The IRS expects documentation not ballpark guesses.
Our Role:
As your certified public accountant, we help determine your actual usage, defend it with logs, and make sure your deductions hold up under scrutiny.
7. Health Insurance Premiums
(One of the Best Deductions for Self-Employed Owners)
If you’re self-employed and not covered by a spouse’s plan, you may be able to deduct your premiums.
Eligible Expenses:
- Health, dental, and vision coverage
- Long-term care insurance (subject to limits)
- Coverage for spouses and dependents
Bonus: You may also qualify for an HSA (Health Savings Account), which is tax-deductible and grows tax-free.
How We Help:
We ensure you qualify, structure the deduction properly (especially for S Corporation owners), and maximize tax savings through additional pre-tax health strategies.
8. Retirement Plan Contributions
(Because You Deserve a Rich Future, Too)
Retirement contributions reduce your current year tax bill while building your future net worth.
What’s Available in 2025:
- Solo 401(k): Up to $69,000 (employer + employee combined)
- SEP IRA: 25% of net self-employment income, capped at $69,000
- Traditional IRA: Up to $7,000 (with income-based deductibility)
Contributions made before your filing deadline (including extensions) still count toward the previous tax year.
CPA-Pro Tip:
We help you choose the right plan based on your income, goals, and business structure and ensure it aligns with Form 1120-S, Form 1065, or Schedule C, depending on your entity.
9. Contractor Payments
(1099s Are Tax-Deductible, If You File Them Right)
Hiring a VA, developer, or copywriter? Great! Just make sure you’re filing the right forms.
You Must:
- Collect a W9 tax form before issuing payment
- Send 1099 NEC forms for payments over $600
- File 1099s with the IRS by January 31
Forget to file? Expect penalties up to $310 per form.
How Insogna CPA Supports You:
We collect W9s, issue 1099s, and handle contractor reporting for you—especially helpful if you have international contractors or multi-entity setups.
10. CPA & Tax Preparation Fees
(Yes, You Can Deduct Us!)
Here’s the cherry on top: CPA fees are tax-deductible if they relate to business tax planning, strategy, or filing.
Deductible:
- Tax preparation services for your business
- Bookkeeping and payroll services
- Advisory fees from a certified CPA or tax advisor in Austin
Fees for personal returns? Not deductible, but if your CPA is filing your S Corp or partnership return, you’re good.
The Insogna Difference:
We go beyond compliance. We build a tax plan that makes sure your CPA fees pay you back in savings.
Bonus: What Happens If You Don’t Track These Deductions?
You might think it’s “no big deal” if a few expenses slip through the cracks.
But here’s what we’ve seen:
- Clients overpaying $10,000+ annually by not claiming every legal deduction
- Missed FBAR filings for foreign business accounts (that’s a $10,000+ penalty)
- Improperly categorized draws or distributions that trigger IRS letters
- S Corp owners forgetting to issue W-2s or even file Form 2553 altogether
These aren’t rare. And yes, they’re fixable. But they’re also preventable when you work with a licensed CPA in Austin, Texas who knows what to watch for.
Final Thoughts: You Work Hard. Don’t Tip the IRS.
Every deduction you skip is money you’re donating to the government.
If you’re running a business, you need a proactive CPA near you. Someone who isn’t just checking boxes but looking for ways to build a smarter, more profitable business structure.
Whether you’re looking for a:
- tax advisor near you
- taxation accountant for strategic planning
- or the best Austin accounting firms to handle your filings
You’ve found your people at Insogna CPA.
Book Your Deduction Strategy Session with Insogna CPA Today
Ready to stop guessing and start saving?
Schedule your tax planning consultation with Insogna CPA, your go-to Austin, Texas CPA and year-round tax partner.
We’ll help you track the right expenses, claim every deduction you’re entitled to, and structure your business for long-term tax efficiency.
Because building your business is hard. Overpaying taxes doesn’t have to be part of the plan.