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Here Are 20 of the Most Popular Tax Deductions for Small Businesses

Published

8 years ago

February 4, 2016

INSTORE Staff

It’s a good time for a pow-wow with your CPA.

Citing 2015 tax data released by the IRS, Small Biz Trends compiled a list of 20 of the most popular tax deductions that were claimed by sole proprietors, which can also be claimed by other types of small businesses. If you’ve peaked at our Manager’s To-Do List for February, then you know that we recommend scheduling an appointment with your accountant this month to finalize your 2015 financial statements before you head down the home stretch of tax season. She or he can help you determine if you’ve done everything that’s required to qualify for these deductions.

She Wanted to Spend More Time with Her Kids. She Called Wilkerson.

Your children are precious. More precious than gold? Absolutely! Just ask Lesley Ann Davis, owner of Lesley Ann Jewels, an independent jewelry store that — until the end of 2023 — had quite a following in Houston, Texas. To spend more time with her four sons, all in high school, she decided to close her store. Luckily, she was familiar with Wilkerson and called them as soon as she knew she wanted to move on to bigger, better and more family-focused things. Was she happy with her decision? Yes, she was. Says Davis, “Any owner looking to make that life change, looking to retire, looking to close, looking for a pause in their career, I would recommend Wilkerson. Hands down!”