Here are some of the top tax deductions for your small business.

If you can make sure that you are geting all of the Business Tax Deductions that you are allowed that would be a good thing right? So with some simple research you can get more money into your pocket at the end of the year.

It all depends on paying close attention to the IRS laws on just what is and is not deductible.

If you have a small business we recommend getting advice by a tax expert or even an online tax service like H and R Block or others. These services make it easy to list what you think should be deductions and see what you can actually deduct using their rules embedded in their software.

The following are some of the most commonly used business tax deductions:

If you use your vehicle for business, or your business owns its own vehicle, you can deduct some of the costs of driving it.

The two methods of claiming expenses are Actual expense method and Standard mileage rate method.With actual you keep track of and deduct all your actual business-related expenses.

With standard you deduct the standard mileage rate for each mile driven, plus all business-related tolls and parking fees.

If you use a newer car mainly for business, the actual expense option provides a larger deduction. If you use the actual expense method, you can deduct depreciation on the vehicle.

If your auto is used for both business and personal use, only the business portion gets you a tax deduction. So you must keep good records of how often you use the car or truck for business and tabulate it all up at the end of the year.

If you’re running a business, advertising, utilities, office supplies,etc can be deducted as business expenses.

You can deduct education expenses if they relate to your current business or occupation. The expense must be to maintain or improve skills required in your current job, or be required by your employer.

Fees that you pay to lawyers, tax professionals, or consultants can be deducted in the year that you paid for these services.

Goods, If your business sells items, you can deduct the cost of the items that you sell but aren’t paid for.

Services, If your business provides services, no deduction is allowed for time you devoted to a customer who doesn’t pay you.

Here are some more of the top Business Tax Deductions:

* audiotapes and videotapes related to business skills

* bank service charges

* business association dues

* business gifts

* business-related magazines and books

* casual labor and tips

* casualty and theft losses

* coffee and beverage service

* commissions

* consultant fees

* credit bureau fees

* office supplies

* online computer services related to business

* parking and meters

* petty cash funds

* postage

* promotion and publicity

* seminars and trade shows

* taxi and bus fare

* telephone calls away from the business

As always check with the IRS or your tax consultant to see if they apply to you.