Small Business Guide: Black Friday & Cyber Monday Deals

Black Friday & Cyber Monday are less than a week away and if you’re planning to purchase items for your small business you’ll want to read this first. 

Here is our list of the popular deal items you can deduct from your business taxes. 

Electronics: If you’re planning to take advantage of the best deal on a laptop, Ipad, tablet, or printer then you’re in luck. These items are all tax deductible business expenses. 

Phones: If you are a small business owner or you plan to buy a new phone for an employee’s business use, then you can deduct the phone from your taxes but the equation is a bit complicated. You can only deduct the percentage of the device used for business. If you are a small business owner and you use 10% of the phone for personal use, you can deduct 90% of the cost. 

TVs: Does the conference room need a new tv? Great, take advantage of the deals this season and don’t forget to save the receipt. You can deduct the cost of a TV used for business purposes.

Employee Educational Materials & Subscriptions: Continuing education tools and magazine subscriptions might not be top of mind on Cyber Monday but many of the top learning sites (like Audible, Udemy, and EdX) offer deep discounts on subscriptions. Couple that discount with the tax deduction you’ll receive and this may just move up higher on your ‘must get’ list. 

Travel: Does your team head to the same big conference every year? You might benefit from purchasing your airfare, hotels, and rental car reservations during the sale rush. These items are all deductible and can get costly if you wait until the last minute to book.

If you have big purchases planned, it’s always best to check with your accountant before assuming you’ll receive a deduction. If you have questions and aren’t sure who to ask, I’m always happy to help. 

Karen