8 of the Best Tax Deductions for Sole Proprietors

July 19, 2017 Michelle Mire

Maximizing tax deductions is one of the most significant ways to minimize the share of revenue you have to pay out in taxes each year. If you're a sole proprietor (company of one), these margins matter even more.

Learn about eight key tax deductions for sole proprietors in our guest post for LessAccounting — accounting software for business owners who dislike bookkeeping. (Note: This means the process of bookkeeping, not the bookkeepers who make a huge difference every single day.)

About the Author

Blogmaster, content creator and inbound marketing guru at Wagepoint, Michelle enjoys simplifying complex payroll topics and generating articles with actionable advice for small businesses and startups. When not at the keyboard, she enjoys chocolate, running and quality television (not always in that order).
Follow on Google Plus Follow on Twitter More Content by Michelle Mire

What Are Quarterly Wage Reports and Why Do They Matter?

A concise overview of an employer's responsibilities for wage reports (quarterly contribution or wage detai...

The Most Important Pieces of Payroll Compliance

You’ve got a business, and you’ve got employees. All you have to do is write a check and pay them, right? W...

See the list

No thanks

Return to Home

Welcome to the Wagepoint Blog!

8 of the Best Tax Deductions for Sole Proprietors

About the Author

Previous Article

Next Article

8 of the Best Tax Deductions for Sole Proprietors

About the Author

Previous Article

Next Article

Other content in this Stream

Looking for the best payroll tools for your small business? Or a stack of online payroll tools that work together seamlessly? These tools build a smart hr workflow that's easy to manage.

Paycheck vs pay stub, total pay vs net pay, contributions vs deductions and who is FICA anyhow? This simple infographic answers your questions and explains how to read a paycheck.

More and more small businesses are using freelancers for specific skills and projects. Find out where to begin and how to find the right freelancer. Includes a list of the top freelance sites.

While it's common to mention accountants and bookkeepers in the same breath, it's important to know that each is its own professional designation with specific roles and responsibilities.

If you're a sole proprietor, you have to pay income and businses taxes, payroll or self-employment taxes and perhaps, if applicable, excise taxes. Find out how this all works.

During tax season, small business owners are scrambling for time and helpful resources. Learn about five resources that can help keep your business taxes on track.

Tax season is a complicated time for small business. This article for the Fundera Ledger explains how payroll year-end affects your overall small business taxes — and which on you should do first.

In a guest post for Simple Order, Wagepoint explains the ways in which payroll, time tracking and scheduling apps help restaurant managers and their employees.

What are the latest updates to Wagepoint's payroll software? This update will tell you about new improvements and features within in the main app as well as for Canada and the United States.

Self-employed and a sole proprietor? If so, here's what you'll need to know as you file your business taxes with your personal taxes using a Schedule C along with your 1040.

As a startup, it's hard to know where to start at tax time. This list will tell you about 10 tax deductions that your startup can use to lower your tax bill.

Getting your startup off the ground is hard, which is why you are so careful in who you hire. Subsequently, you also want to have the right payroll system in place to pay people accurately and on time

FICA is an acronym for the Federal Income Protection Act that requires Medicare and Social Security taxes be withheld from employee paychecks every time payroll is run.

You know it's a best practice to have a specific credit card just for your business, but did you know the rewards these cards offer can also boost your bottom line?

What are the latest updates to Wagepoint's payroll software? This post will tell you the updates in the main app as well as for Canada and the United States.

Learn the difference between the simplified and standard methods and how to figure out which method is best for your small business or startup.

Small business bookkeeping doesn't have to be scary, especially when you know a few simple steps on where to start.

A payroll compliance checklist is a simple way to ensure that you're crossing all your t's and dotting all your i's. This article will tell you all the things that should be on your list.

The salary or wages you pay an employee are only 70% of the total cost of having an employee. The other 30% comes from paid benefits. Learn more about the employer's responsibilities and these costs.

Which jobs and industries offer the largest cash employee bonuses? What are the main reasons for giving an employee bonus? This article and infographic answers these questions and more.