Construction contractors know that a solid foundation is crucial to building a sound structure. But too often, even the best craftsmen forget to apply the same care to their taxes.
One of the best ways to reduce the weight burden during tax time is to make sure you claim all your everyday sort of business expenses on your return. By leaving out this this extra material, you’ll build a financial framework that is strong enough to last a lifetime!
Schedule C, Box 18
Software for CRM, lead generation, or email marketing is a write-off.
Schedule C, Box 17
Legal fees paid to set up your business or draw up paperwork are deductible.
Schedule C, Box 18
Software you use for invoicing, tracking expenses, creating timesheets, and so on is deductible.
Schedule C, Box 27a
Coaching, seminars, or workshops used to maintain your work-related skills can be written off.
Schedule C, Box 11
Write off the fees you pay to contract labor to help you complete projects.
Schedule C, Box 8
Ad campaigns on Google, Meta, TikTok, and more are all deductible on your taxes.
Schedule C, Box 27a
If you belong to a union, go ahead and write off your dues.
Schedule C, Box 27a
Deduct any gear you and your team need for safety on the job, like steel-toed boots and hard hats.
Schedule C, Box 27a
If you take courses to learn new skills as a contractor, you can write off what you pay.
Schedule C, Box 23
Fees to get a commercial license to operate heavy machinery and vehicles are deductible.
Schedule C, Box 13
Heavy machinery and small tools used to complete projects are considered tax write-offs.
Schedule C, Box 27a
If buy a phone or laptop and use it for work, it's partially deductible.
If your work as a construction contractor finds you on the road, whether you're driving to a job site, picking up equipment, or meeting with a client, keep in mind that you can write off a portion of your expenses on things like fuel and car maintenance.
Schedule C, Box 27a
Parking for a meeting downtown, or any other work trip, is tax-deductible!
Schedule C, Box 27a
A toll while driving to or from a work destination is tax-deductible!
Schedule C, Box 13
If you buy a new car, you can write off part of the cost every year for five years.
Schedule C, Box 22
Flashlights, tire iron, duct tape, and other tools you may need in your vehicle are deductible.
Schedule C, Box 15
Car insurance monthly fees, registration, even roadside assistance are partially deductible.
Schedule C, Box 9
Oil changes, repairs, and regular checkups are all tax-deductible if you drive for work.
The IRS gets that a construction contractor's job isn't restricted to construction sites. You might grab dinner with prospective clients or fellow construction contractors who want to refer you for a job.These both count as business meals and you can write the costs off on your taxes.
Schedule C, Box 24b
If you discuss work with a coworker, mentor, client, or prospective client, it's a write-off!
Out-of-town work events like trade shows or industry conferences come with associated travel costs that you can write off on your taxes.
Schedule C, Box 24a
Planes, trains, and car rentals are all work-related travel costs that can be written off.
Schedule C, Box 24a
When you travel for work, lodging expenses such as hotel rooms or Airbnb are write offs.
Schedule C, Box 24a
When you're traveling for work, all meals are tax-deductible. Even takeout!
If you work from home on client development, lead generation, industry research, or paperwork and finance management, you can deduct home office expenses from your taxes.
Schedule C, Box 18
A desk, chairs, lamps, and other home office necessities are all tax write-offs.
Schedule C, Box 21
You can write off up to $2,500 for individual repairs to your property.
Form 8829
Gotta keep the lights on in your home office! A portion of your electricity bill counts.
Form 8829
Whether it's rental or homeowners insurance, you can write off a portion through your home office deduction.
Form 8829
It'd be hard to work in an office without running water, huh? You water bill counts.
Schedule C, Box 25
Your Comcast bill is a tax write-off. You need internet to do your job!
