5 Deductions Schedule C Clients Miss That Tax Pros Should Be Catching

Apr 14
2 min read

By Dr. Gwennetta Wright, Tax Coach

One of the biggest opportunities tax professionals have when preparing a Schedule C is making sure clients are not leaving money on the table. Many business owners do not fully understand what they can write off, and if you are not asking the right questions, those deductions get missed.

Here are five deductions Schedule C clients miss all the time.

Many clients forget about mileage and vehicle expenses. If they are driving for business, whether it is rideshare, delivery, or running errands for their business, those miles add up. You need to ask how they are tracking mileage and if they have a log.
Another missed deduction is the home office. A lot of clients think they do not qualify, but if they are using a space regularly and exclusively for business, they may be eligible. You should ask how they are using their home for business purposes.
Business use of phone and internet is also commonly missed. Most clients use their personal phone for business but never separate the business portion. You need to help them determine a reasonable percentage.
Supplies and small equipment often get overlooked. Things like office supplies, tools, software subscriptions, and even small purchases throughout the year can add up. Clients do not always track these unless you ask.
Education and training is another one. Courses, certifications, and trainings related to their business are deductible, but many clients do not think to include them.

The key to capturing these deductions is asking better questions. Do not just rely on what the client tells you upfront. Dig deeper into how they operate their business.

When you take the time to understand your client’s business, you not only maximize their deductions but also increase your value as a tax professional.

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