I’m no accountant, but I’ve learned a thing or two in my 10+ years in business when it comes to investing in your business and getting a kick-back. This is the perfect time of year to start looking through all the areas of your business and looking for ways you can level-up your operations, streamline your strategies, save time, save money in the long run, and just overall push your business into its next era.
If you are new in business or haven’t fully taken advantage of possible tax deductions in the past, this post is for you!
Wait, what are small business tax write-offs and how do they work?
Small business tax write-offs, also known as tax deductions, are expenses that business owners can subtract from their total income to lower their taxable income. These deductions reduce the amount of income subject to taxation, ultimately resulting in a lower tax liability and typically apply to expenses that are ordinary and necessary for running your business like rent, supplies, marketing costs, equipment, software, charitable contributions, and more.
In short, small business tax write-offs are essential for reducing your tax liability and maximizing your business’s profitability. I know it’s possible that you haven’t realized that some smart investments can be a benefit to your business and a tax write-off, so I wanted to list a few win-wins that I think are smart moves before the end of the year.
Ten Tax Biz Write-Offs I Recommend
I actually bought this on December 31st YEARS ago and am so glad I did! HoneyBook is your all-in-one business buddy, perfect for creatives like photographers and event planners. It’s a game-changer, making client management a breeze. You can create and send invoices, manage projects, and even e-sign contracts all in one place. Plus, it helps automate all of those tedious tasks, freeing up time for you to focus on what you love. It’s a must-have for any small business owner looking to simplify and supercharge their operations.
Flodesk is a total game-changer for your email marketing, designed with creatives and small business owners in mind. It’s as simple and beautiful as it is effective. Create stunning emails, automate workflows, and watch your engagement soar. Flodesk is all about making email marketing an enjoyable experience, and it’s the perfect tool to help you connect with your audience and grow your brand effortlessly.
03. Tonic Site Shop
Tonic Site Shop is a dream come true for creative souls looking to make their mark online. It’s like having your very own web design genie, with beautifully crafted, fully customizable, SHOWIT website templates ready to showcase your work. Say goodbye to website worries, and hello to stunning, user-friendly, made -to-convert designs. Tonic Site Shop is here to help you shine online without the tech headaches.
Kajabi is your all-in-one business partner for building and growing your online empire. It’s like having a personal assistant for creating and selling your courses, coaching, and digital products. With Kajabi, you can design your website, host content, market your brand, and handle payments, all in one place. It’s the ultimate tool to simplify your online business journey and take it to the next level.
05. The Legal Paige
The Legal Paige is your legal guru, designed to simplify the legal side of your creative business. Think of it as your personal attorney, offering customizable contracts and legal resources crafted just for you. It’s here to help you protect your brand and navigate legal waters with ease, so you can focus on what you do best – being a creative genius.
06: Interact Quiz Maker
Interact Quiz Maker is your secret sauce for interactive content and my fave quiz-building tool. It’s like having a wizard for creating engaging quizzes and generating leads. With Interact, you can effortlessly craft quizzes that captivate your audience and grow your email list. It’s the ultimate tool for boosting user engagement and making your brand stand out in the digital world.
Showit is your creative playground for designing websites that truly shine. Think of it as your virtual canvas, where you can craft visually stunning and highly customizable websites without the need for coding skills. Showit is here to help you express your unique style and captivate your online audience effortlessly. It’s the ultimate platform for creatives and small businesses looking to make their mark on the web.
Shopify is your e-commerce dream come true. It’s like having a magic wand to transform your business into a thriving online store and what I use for Shop JK! With Shopify, you can easily build, customize, and manage your digital shop, from product listings to payments and shipping. It’s the ultimate solution for entrepreneurs and small businesses looking to turn their products into a successful online business.
ÉLEVAE is your visual storytelling toolkit. It’s like having a treasure chest of stunning stock photos to enhance your brand’s online presence. With ÉLEVAE, you can effortlessly elevate your social media, blog, or website with professionally curated images. It’s the ultimate solution for creatives and businesses looking to create a cohesive and captivating visual identity in the digital world.
10. Shop Jenna Kutcher
The Jenna Kutcher Shop is your creative haven, designed to elevate your brand and business. Think of it as your treasure trove of resources, from branding and social media templates to educational courses. It’s here to empower you with the tools and knowledge you need to make your business thrive. The Jenna Kutcher Shop is the ultimate must-have list for entrepreneurs and creatives looking to transform their passion into a thriving business.
End-of-the-Year Write Offs = Your New Year Growth
After a decade of trying hundreds of different business tools, putting every recommendation to the test (and I’m a tough tester!), I really believe in these resources as the best-of-the-best and worth the investment, especially since it’s pouring right back into your business.
Write-offs used to be boring, like buying a new copier, but getting smart with your business expenses can now also mean you’re bringing how your business functions into the future. Give your website the update it needs. Make posting on socials less stressful with gorgeous stock photos. Built the course. Start that email list! And do it while saving money, time, and stress. Win-win-win.
Who knew that getting clever and forward thinking about your tax write-offs could be so exciting?