I want to do a video series to help understand Tax deductions VA's use in their taxes and why. I have listed the top 10 on my blog but want to break them out into individual categories. Here's the question I would like to ask all of you...

What do you consider the best tax deductions for your business that others may forget about?

Your help would be appreciated.

Thanks,

I don't know if others 'forget about' these but a few that we take or have taken:
-new equipment [computers, hard drives, monitors, mice, etc.]
-book and magazine purchases related to business
-software purchases
-office supplies
-business-related domain name purchases
-hosting fees
-home office deductions
-charitable donations made in the company's name

and don't forget that you can deduct your startup fees the first year you are business!

I know there are plenty more but that's all I can think of at the moment - Lisa, please share the video series with us when it's ready!

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Tess -- I just opened for business July 1. What type of start-up costs are deductible. Will I have to have everything purchased by December 31 to be included as "first year" or will I have until June 30, 2010?

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Amanda