Small Business Expense Categories Checklist
Amount Expense Type
Advertising: Placing ads online, running commercials, sign printing,
business card order, etc.
Continuing education: Programs or education expenses
Dues and subscriptions: Monthly/yearly charges for business related
programs, including accounting or management software
Home office: *Simplified version – deduct $5 for every square foot of
your home office, up to a maximum of 300 square feet. [The IRS only
allows you to claim this deduction if your home office is used exclusively
for business purposes on a regular basis.]
Insurance: General liability, worker’s compensation, product liability,
and disability insurance premiums
Legal and professional fees: Bookkeeping, accounting and lawyer bills
Maintenance and repairs: Varying depending on industry
Meals: 50% of business meals (taking a client out for a dinner)
Office expenses and supplies: Pens and pencils, file folders, toner for
your copier, ink cartridges for your printer, etc.
Postage and shipping: Cost of shipping orders or letters
Rent
Telephone: Phone system or cell phone used for business
Travel: Any necessary business related travel
Utilities: Gas, electricity, and water
Vehicle:
- Standard mileage rate – add up all the miles you drove for your
business and multiply by the IRS’s standard deduction rate to
figure out your deduction. - Actual car-related expenses