GettyFor small business owners at tax time, deductions are vital if you want to offset the cost of keeping the doors open. Here are several legitimate deductions small business owners may overlook that can lessen their tax burden. And, if a company pays credit card processing or convenience fees for payments, these are acceptable business deductions too. There are clear guidelines around deductions business owners can take if they use a home office or workspace, and they’re easy to follow. While you don't always have to provide receipts for deductions, businesses need records of the expenses in logs or ledgers.

Source: Forbes May 29, 2019 11:26 UTC