The Ultimate Guide to Business & Personal Tax Deductions

Save More. Stress Less. Build Smart with Clearli.

Tax season doesn’t have to be painful. In fact, with the right knowledge and strategy, it can be an opportunity to keep more of your money, invest back into your life or business, and set yourself up for long-term growth.

Whether you're a business owner, a freelancer, or just looking to maximize your personal tax refund, this guide will break down the most overlooked deductions, share real-life examples, and provide action steps you can use today.

Let’s turn tax season into profit season. 💰

💼 Top Tax Deductions for Business Owners

If you’re self-employed, own a small business, or run a side hustle — this is for you.

✅ Home Office Deduction

Do you run your business from a dedicated space at home? You may be able to deduct a portion of rent/mortgage, utilities, and repairs.

📌 Example: Sandra runs an online boutique from her apartment and uses a spare bedroom as her office. She deducted $1,200 in 2024 using the simplified method.

👉 Action Step: Measure the square footage of your home office and save your monthly rent/mortgage and utility bills.

✅ Business Mileage

Track your business travel! The IRS allows 67 cents per mile (as of 2024) when driving for business.

📌 Example: Marcus, a mobile notary, drove 5,000 business miles last year and deducted $3,350!

👉 Action Step: Use apps like MileIQ or Everlance to track your mileage automatically.

✅ Advertising & Marketing

Any dollars spent to promote your business—flyers, social media ads, website design—are deductible.

📌 Example: Clearli client Nicole ran Instagram ads and paid a freelancer to design her logo. She deducted the full $1,800.

👉 Action Step: Keep a list of marketing subscriptions, ad spends, and creative services.

✅ Contractor or Freelancer Payments

Paying 1099 contractors or VAs? That’s a full deduction.

👉 Bonus Tip: Don’t forget to issue 1099-NECs by January 31st!

👨‍👩‍👧 Top Tax Deductions for Individuals

✅ Charitable Donations

Did you donate cash, clothing, or supplies to a qualified nonprofit or church?

📌 Example: Jonah donated $2,000 to his church and received a detailed giving statement to deduct on his taxes.

👉 Action Step: Always request and keep your donation receipts.

✅ Medical Expenses

If your unreimbursed medical expenses exceed 7.5% of your AGI, they’re deductible. This includes prescriptions, dental work, and even acupuncture.

👉 Pro Tip: Track with a health expense spreadsheet or your HSA reports.

✅ State & Local Taxes (SALT Cap)

You can deduct up to $10,000 in property taxes and state income or sales tax. This is especially helpful for homeowners and high-income earners.

✅ Retirement Contributions

Contributing to an IRA, SEP IRA, or Solo 401(k)? You may qualify for major deductions and grow your retirement tax-free.

📌 Example: Tasha, a solopreneur, contributed $6,000 to her SEP IRA and reduced her taxable income.

👉 Action Step: Open or contribute to your account before the tax filing deadline.

🚨 Don’t Guess. Strategize.

The truth is, most people overpay on taxes—not because they’re doing anything wrong, but because they’re not doing enough right.

At Clearli, we don’t just file your taxes—we help you build a personalized tax strategy that saves money year after year.

🎯 Take Action Now:

✅ Download Our “Personal & Business Tax Deduction Checklist” – FREE

✅ Book a Free 15-Minute Tax Strategy Call

✅ Subscribe to Our Smart Tax Tips Newsletter

Stop giving the IRS a tip.

Let Clearli help you keep more, grow faster, and build with confidence.

📞 Have tax questions? Call us at (800) 488-7533 or email info@dulciofinancial.com