Subscribe to our newsletter to receive news, updates, and valuable tips.
Last month, my client Jennifer found $14,700 in missed deductions.
Her tax preparer’s response? "I didn't know you could claim that."
If a professional tax preparer doesn't know, what chance do you have?
Today, I'm exposing the 3 biggest deductions that could save you thousands before year-end. Not 47. Not 7. Just the 3 that matter most.
Your preparer isn't evil. They're just not incentivized to save you money.
Think about it:
They get paid whether you save $0 or $10,000
They have 150+ clients during tax season
More deductions = more work = same pay
Their job is filing returns, not building wealth
When's the last time they called YOU with a tax-saving idea?
Exactly.
Missing these 3 deductions costs the average business owner $10,000/year.
Your tax rate: 30%
Annual overpayment: $3,000
10 years in business: $30,000 gone
That's not just money. That's your freedom, security, and peace of mind.
Let's get it back.
Worth: $1,000-$5,000 annually
The Myth: "Home office deductions trigger audits!"
The Truth: Bad deductions trigger audits. Legitimate ones save you thousands.
What You're Missing: Most people claim their desk space. Wrong. Your home office deduction includes:
Percentage of rent/mortgage
Percentage of ALL utilities
Home insurance
Repairs and maintenance
Even cleaning services
The Two-Method Secret:
Option 1 - Simplified: $5 per square foot (max $1,500)
Pros: Easy, no receipts needed
Cons: Leaves money on the table
Option 2 - Actual Expenses: Business percentage of all home costs
Pros: Usually 3-5x bigger deduction
Cons: Requires documentation
Real Example: 200 sq ft office in 2,000 sq ft home = 10% business use
Annual rent: $24,000 x 10% = $2,400
Utilities: $3,600 x 10% = $360
Insurance: $1,200 x 10% = $120
Internet: $960 x 10% = $96
Total: $2,976 vs. $1,000 simplified
That's $1,976 extra. Every. Single. Year.
Your Action Today:
Measure your office space
Calculate both methods
Choose the bigger number
Stop leaving money on the table
Worth: $3,000-$10,000 annually
What You Think Counts: Client meetings
What Actually Counts:
Bank deposits (yes, even ATM runs)
Post office trips
Office supply runs
Networking events
Meeting your Tax preparer/attorney
Training seminars
Coffee shop "office" sessions
Staples/FedEx runs
Even driving to get business mail
The Shocking Math: 2025 rate: 65.5 cents per mile
What you're missing:
Daily bank run: 5 miles x 250 days = 1,250 miles = $818
Weekly supplies: 10 miles x 50 weeks = 500 miles = $327
Monthly networking: 30 miles x 12 = 360 miles = $235
Just these basics = $1,380
Most business owners only track "important" trips and miss 60% of deductible miles.
The Game-Changer: Download MileIQ or Everlance. Today. It tracks automatically. Average user finds 3,000 extra miles/year = $1,965 in deductions.
Standard vs. Actual Method:
Standard: 65.5 cents/mile (simple)
Actual: Track gas, insurance, repairs, depreciation (complex)
Rule: Expensive car? Use actual. Older car? Use standard.
Worth: $5,000-$15,000 annually
These are the deductions hiding in plain sight that add up to thousands:
Software Subscriptions (The Modern Gold):
QuickBooks: $500/year
Microsoft 365: $100/year
Adobe Creative: $600/year
Zoom: $150/year
Website hosting: $200/year
Email marketing: $300/year
Just these: $1,850/year
Insurance (The Big Miss): If you're self-employed, HEALTH INSURANCE premiums are 100% deductible:
Individual: $500/month = $6,000/year
Family: $1,250/month = $15,000/year
Plus dental, vision, long-term care
This isn't a business expense - it's an "above-the-line" deduction. You don't even need to itemize.
Professional Development:
Conferences: $2,000 + travel
Online courses: $500-$2,000
Coaching programs: $5,000-$15,000
Books/audiobooks: $500
Industry publications: $200
The Forgotten Fees:
Bank fees: $25/month = $300
Credit card processing: 2.5% of revenue
Professional memberships: $500-$2,000
Bad debts (yes, unpaid invoices)
Client gifts: $25/person (unlimited people)
The Compound Effect: Just 30 "small" forgotten deductions x $100 = $3,000/year you're missing.
I just showed you 3 deductions worth $10,000-$30,000. These aren't aggressive strategies. They're not gray areas. They're legitimate deductions you're entitled to claim.
But here's the thing: These are just 3 of the 47 deductions most business owners miss.
Your tax person knows about them. They're just not telling you.
Option 1: Keep doing what you're doing. Keep overpaying. Keep hoping things change.
Option 2: Take control of your tax strategy.
The Ultimate Business Success Membership includes:
All 47 overlooked deductions (not just these 3)
Monthly tax strategy calls
Proactive planning (we find deductions FOR you)
Audit protection built in
Direct access to me, not a junior
Because every day you wait is money the IRS keeps.
Stop donating. Start deducting.
Sharon Eason, CPA Your Proactive Tax Strategist
P.S. - Jennifer's final savings using all our strategies? $27,300. Her previous Tax preparer? Still doesn't understand how we did it. That's the difference between filing taxes and strategizing them.
Quick Test: Add up just these 3 deductions for your business. If it's over $5,000, you need a new tax strategy. Today.
Share this article: Every business owner deserves to know. They'll thank you when they see the savings.
(866) 721-5356
100 South Bedford Road, Suite 340, Mt. Kisco, New York 10549
100 South Bedford Road, Suite 340, Mt. Kisco, New York 10549