Issue link: https://www.massageandbodyworkdigital.com/i/72121
BUSINESS SIDE Possible Deductions Accounting expenses Accounts receivable (money that is owed to you) Advertising Auto expenses when used for business purposes. If your car is used part time for business and part time for personal reasons, that must be apportioned. If the car is used solely for business purposes, all expenses related to operating it are deductible—the insurance, license plate, gas and oil, repairs, and maintenance Bad debts Bank service charges Building expenses such as repairs and improvements, interest on a mortgage, property taxes, janitorial services, grounds maintenance, and anything to do with keeping up the building Business licenses and taxes (except for federal income taxes) Charitable contributions Cleaning services Contact expenses. This includes entertainment expenses to promote, increase, or advertise your business Continuing education expenses Dues paid to the Chamber of Commerce, the Better Business Bureau, membership fees to professional associations such as Associated Bodywork & Massage Professionals Entertainment expenses for employees, such as your annual holiday party Equipment and equipment repairs Insurance premiums Interest on business loans Laundry services Legal costs License and certification fees Magazine/trade journal subscriptions Maintenance fees for the building and property Moving costs Music for your office, whether it's a download subscription service, purchased CDs, satellite radio, or streaming Office expenses, including all supplies, plus decorating and painting Reference books, videos, etc. pertaining to massage and business Rent or mortgage Postage Promotional items (cannot exceed $25 per person) Safe deposit box rental Telephone, fax, Internet, credit card machine services Travel related to business Uniforms Utilities Wages Website and Internet expenses 26 massage & bodywork january/february 2012