Skip to Content

Planning Tax-deductible business expenses for Summer

Vacation may not be an activity associated with running a company, but as a business owner, you can still harness the laid-back vibes of summer and boost your bottom line. Summer is a good time to plan and implement initiatives that can positively impact your business for months to come.

We’ve compiled a list of tax-deductible activities to help your business thrive for months to come. The IRS also maintains a guide of tax-deductible business expenses with the most up-to-date information.

Go to Summer School – If you are required to maintain a license or skillset for your business, you can deduct any continuing education costs including tuition, books, and enrollment fees. This deduction also applies to federal, state, and local licensing.

Office Supply Shopping (Spree!) – Take advantage of summer sales to stock up on supplies. Purchase work equipment at lower prices and upgrade outdated software that may be costing you in terms of productivity.

Do Your Laundry – Do you keep your receipts for expenses related to dry cleaning, laundry, cleaning, and maintaining your company uniforms?

Schmooze Your Network – Membership dues for your chamber of commerce, trade associations, civic or public service organizations, professional organizations, or real estate boards are tax deductible. 

Tune Up Your Work Ride – Is it time for an annual inspection for maintenance? Keep the receipts for all services, including car washes and repairs. When you register your business vehicle with the DMV, keep those receipts too.

Plan a Work Trip – Going to a summer convention? Keep a log of your expenses. Be sure to differentiate between non-entertainment-related meals, entertainment and the cost of other services. If your family member or friend travels with you to a business convention, you generally cannot deduct their travel expenses – unless they are a business associate and meets certain conditions.

Post a Summer Gig – If you book an independent contractor, make sure you have their W-9 forms on file so you are prepared to file 1099-NEC at year end to anyone you pay $600 or more to.

Rent Out the Spare Office – If you rent a business location, deduct the rental payments as a business expense, even if you use a monthly co-working space.

Go Green for Good – Summer heat can lead to soaring energy bills, but you can beat the heat (and save money) by implementing energy-saving measures. Encourage employees to turn off lights and electronics when not in use, and consider upgrading to energy-efficient appliances and lighting systems.

Set Up Summer Ad Campaigns – Are you claiming these marketing expenses for your small business this summer? You can fully deduct advertising expenses, such as TV and radio ads, online marketing, and mailers. Even the cost of providing meals or entertainment to the general public as a community promotion can be written off.

Bernstein Financial Services Inc. provides a wide range of services to individuals and businesses in a variety of industries. We do not provide legal advice. This article is for educational purposes only and should not be taken for business advice about your specific situation. Please schedule an appointment with a Principal at Bernstein Financial Services to help you determine your optimal planning strategies.