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How we get you over £2000 to take home…

Here at mytax.co my aim is simple, to get you as much money back as quickly as possible! Many accountants do not take the time to work with you to fully identify all your business expenses so that you get a bigger tax rebate. All they care about is getting there fee. Well here at mytax, we will not submit a tax return unless your happy 100% happy with the figure your getting. Our average rebate is over £2000 to take home. We get this by claiming for all the legitimate business expenses you are entitled to but never told about!

Business is expensive, from travel expenses to tools and work clothes. Wherever you go, it may seem like your wallet is open. One way to save money each year is to find legitimate tax write-offs that are business related.

As an accountant, everywhere I go, even when I’m at dinner with friends, I constantly am asked the question: “So, what can I write off my taxes?”

Surprisingly, there isn’t some master list included in the Inland Revenue code or provided by the Revenue Service. There is simply the tax principle that states a valid write-off is any expense incurred in the production of income. Each deduction then has its own rules.

A good accountant should be teaching their clients to try and constantly think of any and all personal expenses that may have a business purpose. With a small-business venture in your life and on your tax return, you may be able to convert some personal expenses to business expenses, as long as you have the proper business purpose for that expense.

Seasoned business owners become proficient over the years at keeping good records and realizing when expenses have a legitimate business purpose. For some, this thought process becomes so ingrained that it becomes almost impossible to buy something without first considering a tax purpose for that item or service.

Here are 60 items that we can claim for, take a look and see if any of these apply to you, you will be surprised! And if you haven’t told your accountant you spend money on any of these then that is money that you have missed out on!

1. Accounting fees
2. Advertising
3. Auto expenses
4. Bad debts that you cannot collect
5. Banking fees
6. Building repairs and maintenance
7. Business association membership dues
8. Business travel
9. Cleaning/janitorial services
10. Collection Expenses
11. Computers and tech supplies
12. Continuing education for yourself to maintain licensing and improve skills
13. Conventions and trade shows
14. Costs of goods sold
15. Credit card convenience fees
16. Depreciation
17. Dining during business travel
18. Education and training for employees (new)
19. Employee wages
20. Entertainment for customers and clients
21. Equipment
22. Equipment repairs
23. Family members’ wages
24. Freight or shipping costs
25. Furniture or fixtures
26. Gifts for customers
27. Group insurance (if qualifying)
28. Health insurance
29. Home office
30. Interest
31. Internet hosting and services
32. Investment advice and fees
33. Legal fees
34. License fees
35. Losses due to theft
36. Management fees
37. Materials
38. Maintenance
39. Medical expenses (with plan)
40. Mortgage interest on business property
41. Moving
42. Newspapers and magazines
43. Office supplies and expenses
44. Outside services
45. Payroll taxes for employees, including Social Security, Medicare taxes and unemployment taxes
46. Parking
47. Pension plans
48. Postage
49. Publicity
50. Rent
51. Research and development
52. Safe
53. Software and online services
54. Storage rental
55. Subcontractors
56. Taxes
57. Telephone
58. Utilities
59. Website design