What’s Tax Deductible for Your Business? A Guide for Six-Figure Entrepreneurs

Written By Carolyn Rowland

Running a successful business means keeping more of what you earn—and that starts with understanding what’s tax deductible. Whether you're a solo consultant, creative, coach, or agency owner, knowing what you can write off is key to reducing your tax bill and staying compliant.

At Resilient Tax & Accounting, LLC, we help entrepreneurs like you navigate the tax landscape with clarity and confidence. Here’s a breakdown of common deductions you may be eligible for.

💼 Top Tax Deductions for Schedule C & S Corp Filers

1. Home Office

  • If you work from home, you may be able to deduct a portion of your rent, utilities, and internet. The space must be used exclusively for business.

2. Business Meals

  • Meals with clients or during travel are 50% deductible. Keep records of who you met with and the business purpose.

3. Travel Expenses

  • Flights, hotels, rental cars, and even Uber rides for business trips are deductible. Personal travel costs must be separated.

4. Marketing & Advertising

  • Website costs, branding, social media ads, and email marketing tools are all deductible.

5. Professional Development

  • Courses, certifications, coaching, and conferences that help you grow your business are deductible.

6. Software & Subscriptions

  • Think QuickBooks, Canva, Zoom, and other tools you use to run your business.

7. Contract Labor

  • Payments to freelancers, virtual assistants, or subcontractors are deductible. Be sure to issue 1099s if applicable.

8. Retirement Contributions

  • Solo 401(k)s and SEP IRAs offer powerful tax advantages for business owners saving for retirement.

9. Health Insurance Premiums

  • If you're self-employed, you may be able to deduct your health insurance premiums.

10. Business Use of Vehicle

  • Track mileage or actual expenses if you use your car for business. Apps like MileIQ make this easy.

🧾 Best Practices for Tracking Deductions

  • Use a dedicated business bank account and credit card

  • Keep digital receipts and categorize expenses monthly

  • Use bookkeeping software like QuickBooks or Xero

  • Work with a tax advisor to review deductions quarterly

👋 Ready to Simplify Your Taxes?

If you're earning six figures and want proactive tax planning, we’re here to help. Schedule a consultation with Resilient Tax & Accounting, LLC and let’s make your business tax-smart.

Carolyn Rowland
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