Running a business is hard. Paying more in taxes than you should? That’s optional.
If you’re not taking advantage of key tax deductions, you’re leaving money on the table—money that could be reinvested into growing your business. The IRS won’t remind you to claim these, but we will.
At Insogna CPA, a top-rated CPA firm in Austin, Texas, we help small business owners like you keep more of what you earn by making sure every deductible expense is properly tracked and maximized.
Here’s your cheat sheet for tax savings.
1. Home Office Deduction: Your Couch Might Be Making You Money
If you’re working from home (and let’s be honest, most of us are), you can deduct a portion of your rent, mortgage, utilities, and internet as long as it’s used exclusively for business.
✔ Option 1: Simplified Method – $5 per square foot (up to 300 sq. ft.).
✔ Option 2: Actual Expenses – Deduct a percentage of total home expenses.
Not sure how much you can deduct? Our team at Insogna CPA, a trusted Austin small business accountant, makes sure you get every dollar you’re owed.
2. Business Travel & Meals: Yes, That Coffee Meeting Counts
If you’re hitting the road for work, flights, hotels, rental cars, and even 50% of business meals are deductible… just don’t try writing off that “work dinner” with friends.
✔ Client meetings? Deductible.
✔ Conferences? Deductible.
✔ Last-minute trip to Cabo? Not deductible—nice try.
Pro Tip: Keep those receipts! The IRS loves to audit travel expenses. A tax advisor in Austin can help keep your records squeaky clean.
3. Marketing & Advertising: Invest in Growth, Deduct the Cost
Spending money on ads? Running a website? Every dollar you put toward marketing and brand awareness is tax-deductible, including:
✔ Social media ads (Facebook, Instagram, Google)
✔ Website costs (hosting, design, SEO)
✔ Business cards, branding, and promo materials
Marketing is an investment, not just an expense. A CPA in Austin, Texas, can help track these expenses and boost your deductions.
4. Health Insurance: Yes, You Can Deduct It
If you’re self-employed and pay for your own health insurance, you can deduct 100% of your premiums for yourself, your spouse, and dependents.
Heads up: This deduction only applies if your business shows a net profit. Talk to an Austin tax accountant to ensure you qualify.
5. Startup Costs: What You Can Deduct & What Gets Amortized
Launching a business isn’t cheap. But the IRS lets you deduct up to $5,000 in startup expenses (like legal fees, branding, and business plans). Anything beyond that? It gets amortized over 15 years.
Not sure what counts? Our team at Insogna CPA, an Austin accounting firm, makes sure every startup expense is categorized correctly for maximum savings.
6. Software & Business Tools: Because Running a Business Isn’t Free
If you’re paying for software, it’s probably deductible. Common tools include:
✔ Accounting software (QuickBooks, Xero)
✔ CRM systems (HubSpot, Salesforce)
✔ Project management tools (Asana, Trello)
Even small monthly subscriptions add up! Our Austin accounting service ensures nothing slips through the cracks.
7. Continuing Education: Grow Your Skills, Shrink Your Taxes
Any expenses related to improving your business skills are tax-deductible. This includes:
✔ Online courses (Udemy, Coursera, LinkedIn Learning)
✔ Conferences & seminars
✔ Books & subscriptions for professional development
Education makes you a smarter business owner AND lowers your tax bill. An Austin, TX accountant can help you track these deductions properly.
8. Legal & Professional Fees: Yes, Even Your CPA Fees Are Deductible
If you pay for legal or professional services, you can write off 100% of the cost. This includes:
✔ Business formation & contract reviews
✔ CPA fees for bookkeeping & tax filing
✔ Consulting fees for business strategy
Even our services are deductible! Work with an Austin CPA firm accounting firm and let the IRS cover part of the cost.
9. Self-Employed Retirement Contributions: Save Now, Pay Less in Taxes
Contributing to a Solo 401(k) or SEP IRA helps you save for retirement while reducing taxable income.
✔ Solo 401(k) contributions up to $66,000 (2023 limit)
✔ SEP IRA contributions up to 25% of net earnings
Retirement planning is a tax-smart move. A small business CPA in Austin can help set up the right plan for you.
10. Vehicle Expenses & Mileage: Keep Track, Get Paid Back
If you use your car for business, you can deduct either:
✔ Standard mileage rate (65.5 cents per mile for 2023)
✔ Actual expenses (gas, maintenance, insurance)
Tracking your miles? Apps like MileIQ or QuickBooks make it easy. A CPA firm in Austin, Texas, can help you decide which method saves you more.
Maximize Your Tax Deductions with Insogna CPA
Taxes are complicated but paying more than you have to? That’s optional.
At Insogna CPA, one of the most trusted CPA firms in Austin, Texas, we help small business owners maximize deductions, automate bookkeeping, and stay IRS-compliant...
Want to make sure you’re claiming every deduction possible? Let’s review your tax savings together—schedule a free consultation today!