This content is for educational and informational purposes only and does not constitute financial, tax, or legal advice. Consult a qualified professional before making any financial decisions.
A few years into running my business, I had a meeting with a new accountant.
She asked me a simple question: what are you currently writing off?
I listed the obvious ones. My laptop. Some software subscriptions. A couple of business meals.
She looked at me and said, that's it?
That conversation cost me nothing and saved me tens of thousands of dollars. What she showed me that day is in this guide.
If you own a business and you are not claiming these deductions, you are paying more than you owe. Every single year.
The IRS allows deductions that are ordinary and necessary for your business. That covers more than most women think.
1. Your appearance on camera
Hair, makeup, and wardrobe used exclusively for on-camera appearances, speaking engagements, and public-facing business work is a legitimate business deduction. The key word is exclusively. A dress you also wear to dinner does not count. A blazer you bought specifically for your keynote does. Document everything, keep receipts, and note the business purpose.
2. Your home office
If you have a space in your home used regularly and exclusively for business, you can deduct a percentage of your rent or mortgage, utilities, and internet based on the square footage of that space relative to your home. Most women who work from home qualify. Most never claim it.
3. Your health insurance premiums
If you are self-employed and your business shows a profit, you can deduct 100% of the health insurance premiums you pay for yourself, your spouse, and your dependents. This is one of the most significant deductions available to self-employed women and one of the most consistently overlooked.
4. Your retirement contributions
A SEP-IRA allows you to contribute up to 25% of your net self-employment income. A Solo 401k allows even higher contributions depending on your income level. These contributions reduce your taxable income dollar for dollar. For women earning over $100,000, this is where the biggest tax savings live.
5. Your kid's salary
If your business is a sole proprietorship or qualifying LLC and you employ your child for legitimate, age-appropriate work, their wages are fully deductible as a business expense. Your child pays zero federal income tax up to the standard deduction amount for the year, which is $16,100 in 2026. You are legally moving money from your tax bracket into their zero-tax bracket. The work has to be real, the pay has to reflect market rate, and you need proper documentation. Talk to your CPA about your specific structure before implementing this.
6. The 20% pass-through deduction
If you own a qualifying pass-through business, a sole proprietorship, LLC, S-corp, or partnership, you may be able to deduct 20% of your qualified business income from your taxable income. If your business nets $200,000, you could potentially pay income tax on only $160,000. This deduction was made permanent by legislation signed in 2025, with enhanced income thresholds for 2026. Not every business type qualifies and there are income limits. Ask your CPA if you qualify.
7. Every mile you drive
The IRS standard mileage rate is $0.725 per mile in 2026. Every client meeting, speaking engagement, event, and business errand counts. A mileage tracking app takes 30 seconds to use and the write-off adds up to thousands of dollars over the course of a year. Most entrepreneurs are leaving real money on the table here.
8. Education and professional development
Courses, coaching, masterminds, conferences, books, and subscriptions that maintain or improve skills directly related to your current business are deductible. That $5,000 mastermind, the online course, the industry conference you attended. Keep the receipts and document the business purpose.
9. Business meals
50% of meals where business is genuinely discussed are deductible. Document who you were with, what you discussed, and the business purpose. The IRS requires contemporaneous records, meaning you need to note it at the time, not reconstruct it later.
10. Business travel
Flights, hotels, car rentals, rideshares, and meals while traveling for a legitimate business purpose are deductible. Client meetings, speaking engagements, conferences, and business retreats all qualify. If you extend a business trip for personal days, you can only deduct the business portion. Keep itineraries, receipts, and a note of the business purpose for every trip.
11. Your phone and technology
If you use your cell phone for business, you can deduct the percentage used for business purposes. The same applies to your home internet if you work from home and do not already claim it under your home office. Software subscriptions, apps, your email platform, project management tools, design tools, your website hosting, your domain. Go through your subscriptions and flag every one that touches your business.
12. Marketing and advertising
Paid ads, graphic design, your website, photography and video production for business purposes, social media tools, copywriting, PR, and any other cost of getting your business in front of customers is fully deductible. This category is often underclaimed because women do not think to categorize marketing spend as a tax write-off. Every dollar you spent to promote your business this year counts.
13. What you pay contractors and freelancers
Every dollar you pay to a contractor, freelancer, or consultant for business work is fully deductible as a business expense. The person you hired to edit your videos, design your brand, run your ads, manage your inbox. Track these payments throughout the year. If you paid someone over $600, you are also required to issue a 1099, so keeping clean records protects you on both ends.
14. Professional services
Accounting fees, legal fees, bookkeeping costs, and business consulting fees are 100% deductible. The irony is that the CPA helping you find your deductions is herself a deduction. If you paid a lawyer to review a contract, draft your operating agreement, or handle a business dispute, that is a write-off. Many women overlook this entire category.
15. Business insurance
Premiums for general liability insurance, errors and omissions coverage, professional liability, a business owner's policy, or any other insurance purchased specifically for your business are fully deductible. Review what you are currently paying and make sure it is categorized correctly on your return.
16. The Augusta Rule
Section 280A of the tax code allows you to rent your home to your business for up to 14 days per year. You exclude that rental income from your personal taxes. Your business deducts it as a business expense. The rental has to be for a legitimate business purpose, things like a team strategy session, a board meeting, or a planning retreat. You charge your business the fair market rental rate for a comparable space in your area, and you need documentation to support it. Important caveat: this strategy requires a separate legal business entity, meaning an S-corp, C-corp, partnership, or multi-member LLC. It does not apply to sole proprietors. Talk to your CPA to see whether your structure qualifies and how to set it up correctly.
17. Bad debt
If a client did not pay you for work you completed and can document, you may be able to write it off as a bad debt deduction. This applies primarily to businesses using accrual-basis accounting. If your business uses cash-basis accounting, which many small businesses do, this works differently. Ask your CPA how your business accounts for unpaid invoices.
18. Startup costs
If you launched your business within the last few years, you may be eligible to deduct up to $5,000 in startup costs in your first year, with the remainder amortized over 15 years. This covers things like market research, early legal and accounting fees, and other costs you incurred before you opened your doors. If you never claimed this, your CPA can help you assess whether you can still capture any of it.
What to do next
Pull your last three years of tax returns and go through this list. If you are not claiming these deductions, you have likely overpaid. Bring this list to your next CPA meeting and ask specifically about each one. If your accountant is not proactively surfacing these conversations, it may be time to find one who works specifically with self-employed women and small business owners.
Important
This is not tax advice. Tax rules change, income thresholds vary, and your specific business structure matters. Everything here is a starting point for a conversation with your CPA, not a substitute for one.
See you Wednesday with the next edition of Billion Dollar Energy.
Jenny
P.S. If this helped, forward it to a woman business owner in your life who needs to see it.