Let’s be real—tax season feels like a game where the IRS holds all the rules… and you’re just hoping not to lose. But what if I told you there’s a good chance you’re leaving money on the table every year?

Whether you’re a small business owner, freelancer, or side hustler, here are 7 overlooked tax deductions that could save you serious cash. And yes, #5 really is like free money.

1. The “Home Office” Deduction — Even If Your Office Is a Corner of Your Couch

If you’re working from home (hello, 2020 vibes that never left), you might qualify for a home office deduction. No, you don’t need a fancy office with glass doors. If you’ve got a dedicated space—yes, even a desk in your guest room—you could deduct a portion of your rent, utilities, and internet.

💡 Pro Tip: The simplified method lets you claim $5 per square foot, up to 300 sq ft. Easy math, easier money.

2. Subscriptions & Software — Netflix? No. QuickBooks? Yes.

If you’re paying for business-related apps, software, or industry-specific subscriptions, that’s deductible. Think QuickBooks, Canva Pro, Zoom, or even that social media scheduler you forgot you’re paying for monthly.

3. Mileage Madness — Stop Donating Gas Money

If you’re using your personal car for business errands, client meetings, or trips to the post office, track those miles! At 67 cents per mile (2024 rate), those short trips add up fast.

🚗 Forgetting to track mileage is like handing your money to the IRS with a smile.

4. Your Phone Bill — Because Clients Don’t Text Themselves

If you’re using your personal phone for business (spoiler: you probably are), you can deduct a percentage of your phone bill. Just estimate how much is business vs. personal use.

5. Bank Fees & Payment Processing — AKA The Silent Money Drainers

PayPal fees? Stripe charges? Monthly bank fees? Guess what — they’re deductible. Every $2.75 fee you ignored last year could’ve lowered your taxable income. It’s like finding cash in your couch cushions—except better.

6. Educational Expenses — Google Doesn’t Count, But Courses Do

If you invested in your skills—whether it’s a bookkeeping course, tax webinar, or that pricey mastermind group—it’s deductible if it relates to your current business.

7. Start-Up Costs — Yes, Even From Last Year

Just launched your business? You can deduct up to $5,000 in start-up expenses like legal fees, branding, website setup, or that logo you paid your cousin to design.

💥 Final Thought: The IRS Won’t Remind You to Save Money

These deductions are totally legal, but they don’t come with neon signs. That’s why smart bookkeeping isn’t optional—it’s how you stop overpaying taxes every year.

If this list made you realize you’ve been giving the IRS a tip, don’t worry—you’re not alone.

👉 Need help finding every deduction you deserve?
Let’s chat before the IRS gets more of your hard-earned cash than they should.

🔗 Share this with your fellow entrepreneurs and freelancers—because friends don’t let friends overpay taxes.

#TaxTips #SmallBusiness #BookkeepingHacks #StopOverpaying #FreelancerLife