Money · 4 min read

What can I actually write off?

More than most owners claim, and less than the internet promises. The test is simpler than you think.

The short answer

If an expense is ordinary for your line of work and helpful to your business, it is generally deductible. Keep the receipt and note what it was for.

A write-off does not give you money back. It lowers the profit you are taxed on. Spend $100 on something deductible and you save whatever your tax rate is on that $100 — maybe $25. Worth claiming, not worth buying things you do not need.

Things owners routinely miss

Mileage driven for business — client visits, supply runs, the bank. This is often the biggest one and the least tracked.
A portion of your home if you work from it regularly and exclusively.
Phone and internet, at the percentage you use for the business.
Software subscriptions, professional memberships, trade publications.
Fees you paid to form the business, and bank or payment-processing charges.

Things that get people in trouble

Meals with no business purpose noted. Clothing you could wear anywhere. A "business trip" that was mostly a holiday. Personal purchases run through the business card. The rule is not whether you can get away with it — it is whether you could explain it plainly if asked.

Write it down at the time

A receipt with no context is nearly useless three months later. "Lunch — Maria, discussed spring contract" takes five seconds and turns a questionable expense into a defensible one.

You do not have to hunt for these

If your bank is connected, most deductions surface automatically as your transactions get sorted. You confirm; the total updates.

Was this helpful?

Stop leaving money on the table

Connect your bank and Foundli finds deductions as you go — including mileage and receipts snapped from your phone.

See how it works →

← Back to all guides