23 tax write offs for general contractors in the oil and gas industry šŸ›¢ļø

If you work as a project manager, consultant, or site inspector in the oil and gas industry, you're probably being paid as a 1099 contractor. That means you're considered a small business owner by the IRS. Make sure to claim tax write offs so that you're not overpaying the government and giving away your hard-earned money at the end of the year!

Safety Gear and Uniforms

Deduct any gear you and your team need for safety on the work place like boots and helmets

Trade School Tuition

Your education is important for your job! Write off any tuition fees you had to pay.

Construction Supplies and Small Tools

Hammer, ruler, pencils; Anything you need to get the job done, write it off!

Union Dues

Your regular dues to participate in a union in your field can be written off.

Legal fees

If you've had to set up an LLC or have other legal fees for work, that's tax deductible.

Conferences & classes

Conferences and classes that help you keep up with the industry are tax deductible.

Electronics

A new computer, cell phone, keyboard, printer, monitor, mouse, it all counts!

Labor costs

If you employ people that help yourā€ˆbusiness, that's tax deductible!

Phone bill

Your monthly phone bills are expensive! Good thing the cost is partially deductible.

Phone & accessories

If you use your phone for work (who doesn't?) then it's partially deductible.

Hate tracking expenses?

Keeper automatically monitors your purchases for tax write offs.Ā All you have to do is reply to texts!

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If you drive for work ...
If you drive between sites, drive to meet clients, or drive to pick up supplies, you can deduct a number of car-related expenses!
Note: It's also possible to report the miles you drive for work instead of actual car expenses, but unless you drive a lot for work, you'll save more time & money with tracking car expenses. Learn more
Gas

Gas is expensive! A portion of your gas station fill ups are tax deductible.

Car maintenance

Oil changes, repairs, and regular checkups are all tax deductible if you drive for work.

Insurance & registration

Car insurance, roadside assistance, registration costs, etc. are all tax deductible.

Parking

Parking for a meeting downtown or other work trip is tax deductible!

Tolls

A toll while driving to or from a work destination is tax deductible!

Vehicle depreciation

If you drive you own vehicle, you can write off the annual depreciation of it's value!

If you work from home ...
If you do administrative chores from a dedicated workstation at home, you're eligible to claim home office deductions!
Note: you don't need to work from a separate room to claim these write offs.Ā A dedicated desk is sufficient. Learn more
Home office furniture

A desk, chairs, lamps, and other home office necessities are all tax write offs.

Wifi bill

Your comcast bill is a tax write off. You need internet to do your job!

Property insurance

Whether rental or homeowner insurance, you can write off a portion as part of home office.

Power bill

Gotta keep the lights on in your home office! A portion of your electricity bill counts.

Water bill

It'd be hard to work in an office without running water, huh? You water bill counts.

Part of your rent

Whether you pay rent or own your home, a portion of those expenses are tax deductible.

If you discuss work at a restaurant ...
The IRSĀ considers any restaurant expense tax deductible as long as the conversation is work-related. This includes discussing industry trends, and even a chat that could turn into a referral. Learn more
Meals for work

If you discuss work with a coworker, client, or even a friend, it's a write off!

If you leave town for work ...
If you are traveling more than 100 miles (about 2 hours by car) to attend a site, conference, or client meeting, you can claim business travel deductions.
Transportation

Planes, trains and automobiles are all work travel costs that can be written off.

Lodging

When you travel for work, lodging expenses such as hotel rooms or Airbnb are write offs.

Meals while traveling

When you're traveling for work, all meals are tax deductible. Even takeout.

Note: at Keeper, we care about saving you money on taxes. That leads us to generalize tax advice that isn't always so simple. Everyone's situation is different. Please drop a note below or reach out via email if you have questions.