Turns out selling online isn't as easy as people make it sound! The good news? If you do things right on the tax side, you shouldn't owe very much at all. We've put together this master list of tax write offs for online sellers so that you can make sure you're not leaving any money on the table!
Every dollar you spend on Facebook Ads, Google Adwords, etc. is a tax deductible expense!
Boxes, packing tape, bubble wrap, and postage fees — all of it's deductible!
Any inventory costs from product that have been sold are tax deductible!
The 2.75% (give or take) fee that you pay your payment processors ads up. It's deductible!
Online courses, summits, membership site subscriptions, workshops, etc are tax deductible!
Costs for email services like Mailchimp are a tax deductible marketing expense.
Online seller platforms take an arm and a leg on every sale. You can deduct those costs!
Sponsored search placements on Amazon, Etsy, etc are deductible advertising expenses!
Sell hand-embroidered t-shirts? The cloth, labels and sewing machine are deductible!
Cameras, video camera, lenses, lighting, tripods, used for work are all tax deductible!
Gas is expensive! A portion of your gas station fill ups are tax-deductible.
Oil changes, repairs, and regular checkups are all tax-deductible if you drive for work.
Car insurance, roadside assistance, registration costs, etc. are all tax-deductible.
Parking for a meeting downtown or other work trip is tax-deductible!
A toll while driving to or from a work destination is tax-deductible!
If you drive your own vehicle, you can write off the annual depreciation of its value!
A desk, chairs, lamps, and other home office necessities are all tax write offs.
Your Wi-Fi bill is a tax write off. You need internet to do your job!
Whether rental or homeowner insurance, you can write off a portion as part of home office.
Gotta keep the lights on in your home office! A portion of your electricity bill counts.
It'd be hard to work in an office without running water, huh? You water bill counts.
Whether you pay rent or own your home, a portion of those expenses are tax deductible.
If you discuss work with a coworker, client, or even a friend, it's a write-off!
Planes, trains, and car rentals are all work-related travel costs that can be written off.
When you travel for work, lodging expenses like hotel rooms and Airbnbs are write-offs.
When you're traveling for work, all meals are tax-deductible. Even takeout!