Tax Deductions Often Missed by Garden City Small Business Owners

Many small business owners in Garden City are always looking for smart ways to cut costs and stay ahead financially, but one area that often gets missed is tax deductions. With so much going on—from managing staff and keeping up with clients to juggling bookkeeping tasks—it’s easy to overlook small but legitimate write-offs. These missed deductions can quietly add up and leave money on the table.

The good news is there are quite a few deductions hiding in plain sight. Some are tied to the space you work out of, the car you drive for business errands, or even the consultants you hire. Knowing what applies to your situation can really make a difference when tax season comes around. Here are a few deductions that often get missed by small business owners in Garden City.

Home Office Deduction

If part of your home is used regularly and only for business purposes, you might qualify for a home office deduction. It doesn’t have to be a big space. Even a spare bedroom, small studio, or section of a basement counts so long as it's only used for your business and not for personal activities.

Expenses that could be partly deductible include:

- Rent or mortgage interest

- Utilities like electricity, gas, and water

- Home insurance

- Internet service

- Maintenance and repairs for that portion of your home

There are two ways to figure out the deduction. The simplified option uses a set rate per square foot up to a certain limit, and it’s easier to calculate. The regular method is a bit more work but may get you a larger deduction since you'll be using actual expense amounts based on the percentage your office takes up in your home.

Let’s say your home office is 10 percent of your house’s total square footage. That means 10 percent of qualifying household expenses could be considered for a deduction. As long as the space is used for your business only and used on a regular basis you're likely in a good spot to claim it.

Vehicle Expenses That Add Up

If you use your personal vehicle for business, you might be missing out on another deduction. Taking client meetings, picking up supplies, delivering items—these trips don’t just cost time, they cost gas, wear and tear, and more.

There are two ways to claim this type of deduction:

1. Standard mileage rate – This method allows you to deduct a set amount per mile for business use. It’s simple and works well if your vehicle costs stay low throughout the year.

2. Actual expense method – This requires tracking all vehicle expenses for the year, including gas, repairs, insurance, lease payments, and registration fees. Then, you apply the percentage of business use to those total costs.

Tracking mileage means you need strong records. A notebook or a mileage-tracking app can get the job done. Make it a habit to log the starting point, destination, purpose of the trip, and the number of miles driven right after the trip. It's also a good idea to keep your fuel and maintenance receipts, especially if you’re going the actual expense route.

A common mix-up among business owners is trying to write off their full car expenses, even when the car is used for personal errands too. That’s where having clean records really matters. Only the business-related portion of your vehicle expenses is deductible. A certified public accountant in Garden City can help calculate this the right way if it gets confusing, but the first step is to keep solid records all year long.

Don’t Forget the Office Supplies

Office supplies are one of the simplest deductions to miss mostly because they seem small on their own. But over time, they build up. Think about how much you're spending on ink, notebooks, folders, packaging supplies, or postage.

Here’s a quick breakdown of what might qualify:

- Computers, printers, monitors

- Office chairs or desks used for business

- Software and digital tools related to your work

- Binders, pens, paper, and other basic materials

Depending on the cost of larger equipment, like computers or printers, some items might need to be depreciated. That means they're deducted over a few years rather than all at once. But many small purchases can be deducted in full within the same tax year.

Just like with other types of deductions, keeping receipts and tracking what’s business-related is important. If something is partly personal, only the business portion should be included. For example, if you bought a laptop and use it 75 percent of the time for your business, you’ll only be able to deduct that percentage.

With a little focus on what you’re buying and how you’re using it, these common costs can be used to ease your tax burden instead of just eating up your business bank account.

Deducting Professional Services

Running a business in Garden City often means bringing in outside help. Whether it’s a local accountant who helps you keep your books in order or a consultant offering marketing advice, those services cost money. The good thing is many of these professional fees are deductible. You can usually write off the costs as long as the service is directly related to your business.

Covered services may include:

- Bookkeeping and accounting support

- Legal consulting for business matters

- Business advice from certified consultants

- Web or IT services used strictly for your operations

What matters most is how well you track these expenses. Save every invoice. If you pay these professionals online or via apps like Zelle, Venmo, or PayPal, keep a separate record for business transactions. Avoid mixing it with personal payments. That way, when tax time rolls around, it’s much easier to review everything with a tax pro and get it all right.

Let’s say you worked with a freelance designer to create new menus and signage for your coffee shop. The invoice you paid and the purpose of that service clearly tie to your business. That’s a cost you shouldn’t forget to mention when working through deductions.

Overlooked Travel Expenses

Business travel isn’t just limited to big trips across the country. Even local travel that takes you out of your day-to-day workplace may qualify. If you're driving or flying for business-related purposes like trade shows, conferences, or client meetings outside Garden City, those trips can come with deductible costs.

Here are a few examples:

- Round-trip airfare or train tickets

- Car rentals or mileage used during the trip

- Lodging costs such as hotel stays

- Business meals with clients or during conferences

- Parking and tolls while traveling

Just make sure the main purpose of the trip is for business, not personal time. If it’s a mix—say, part business and part vacation—only the portion directly tied to your work is deductible. To keep it clean, hang onto your booking confirmations, travel itineraries, and receipts. You can also jot down quick notes explaining what each part of the trip was for. The more details you have, the fewer questions you’ll face later on.

One common error is forgetting to separate personal meals or leisure activities from business expenses. Dinner with clients? That’s fine. A sightseeing tour you took afterward? Not eligible.

Why a Garden City CPA Can Make a Big Difference

Knowing what you can legally write off is helpful, but understanding how to apply the rules correctly takes time and effort. That’s where working with a certified public accountant in Garden City can help. A local CPA will be familiar with tax rules that relate to New York businesses and will work with you to identify deductions you may not have even considered.

Trying to figure this out alone can lead to mistakes. Some folks end up overclaiming and risk an audit. Others miss out on eligible deductions because they didn’t keep good records or weren’t aware of them. Either way, that’s money that’s either lost or stuck in red tape.

Working with someone who knows what to look for also means you’ll be asked good questions. For example, a CPA might ask about office-related subscriptions or employee training programs—areas you might have skipped when tallying up expenses. With the right support, you find more opportunities to save without guessing your way through the rules.

Unlocking Tax Savings for Your Business

Getting smart about your deductions means keeping more of what your business earns. Things like home offices, vehicle use, travel, and everyday supplies can all have a place in your tax return if used the right way. But the key is understanding the rules, sticking to them, and keeping good records throughout the year.

Taking time to review your business expenses isn’t just a once-a-year task. By staying on top of it all year—talking with a trusted advisor and keeping clear records—you’ll make tax season a lot smoother. Even better, your business will be set up to take advantage of every deduction it actually qualifies for. Errors get avoided, and you end up paying what you owe instead of more than you should.

Understanding which tax deductions apply to your Garden City business doesn’t have to be overwhelming. With the right help and ongoing attention, identifying these often-missed savings becomes part of running a smarter, leaner operation.

Navigating the complexities of business expenses may feel challenging, but with the right guidance, you can unlock valuable tax savings. If you're a business owner in need of reliable support, consider working with a certified public accountant in Garden City. At Yasso Bookkeeping Solutions, we excel in ensuring you're not missing out on deductions while keeping your records organized and compliant year-round.