long distance in particular. If you use your personal phone for business calls you can deduct the long distance calls that are related to your business. Your internet access is also deductible whether you use cable or phone service.

Business computer. That business computer you purchased can be depreciated over three year’s time. Other depreciable equipment can be deducted as well.

Association fees, magazines. Any association that you belong to or magazines you subscribe to related to your business can be deducted.

Banking fees. Monthly bank fees and service charges are deductible.

Mailing costs. Postage and related mailing expenses are tax deductible. If you have a post office box, make certain that you deduct that fee too!

Prizes and other give-a-ways. Part of doing business is giving away prizes and other freebies to clients. Keep track of all of your donations as they can be deducted too. If you sponsor a community event, a little league team, or some other local project you may be able to take a deduction there as well.

Chances are there may be additional deductions that you haven’t thought of. If you use your car for business, then keep track of mileage, maintenance and repairs, tolls, and gas as the business related part of these expenses could be deductible too.

Yes, working for your self has many benefits related to it. Keep track of all of the above mentioned deductions and you can trim or eliminate your taxes accordingly.

Jeff Lakie is a freelance finance writer, His website The Tax Guide is a great place to find out more about who can help me when i owe back property tax. Visit his site today and find out more.

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