Tax Deduction Calculator
Find every deduction you qualify for. Estimate your tax savings and stop leaving money on the table.
Business Information
Expense Categories
Click each category to expand and enter expenses
Simpler - multiply miles by IRS rate
2025 rate: $0.67/mile
Results Summary
Vehicle Expenses$10,050
Insurance Premiums$0
Tools & Equipment$0
Supplies & Materials$0
Professional Services$0
Marketing & Advertising$0
Communication & Technology$0
Education & Licensing$0
Business Operations$0
Retirement Contributions$0
TOTAL DEDUCTIONS$10,050
Estimated Tax Savings
Net Self-Employment Income$139,950
Self-Employment Tax (15.3%)$21,412
Federal Tax (est. 18.6%)$24,061
Total Estimated Tax$45,473
Estimated Tax Savings from Deductions
$3,409
Based on your effective tax rate
Deductions You May Be Missing
- If you use part of your home exclusively for business, you may qualify for home office deduction
- Self-employed health insurance premiums are 100% deductible above-the-line
- Consider a SEP-IRA or Solo 401(k) - contribute up to $69,000 annually
- Accounting/bookkeeping services are fully deductible
- Lead generation costs (like Nearleap) are 100% deductible marketing expenses
Deduction Checklist
Vehicle Expenses
- Business Miles Driven
- Gas/Fuel
- Auto Insurance
- Repairs & Maintenance
- Registration & Fees
- Lease/Loan Interest
- Depreciation
- Parking & Tolls
- Car Washes
Home Office
- Office Square Feet
- Rent/Mortgage Interest
- Property Taxes
- Homeowner Insurance
- Utilities
- Internet
- Repairs & Maintenance
Insurance Premiums
- General Liability
- Professional Liability/E&O
- Workers Compensation
- Commercial Vehicle*
- Tools/Equipment Insurance
- Business Property
- Health Insurance**
Tools & Equipment
- Hand/Power Tools
- Equipment Purchases
- Safety Equipment
- Tool Repairs
- Small Equipment (<$2,500)
Supplies & Materials
- Job Materials (not billed)
- Consumables
- Cleaning Supplies
- Office Supplies
- Uniforms*
- Safety Supplies
Professional Services
- Accounting/Bookkeeping
- Legal Fees
- Tax Preparation
- Business Consulting
- IT Support
- Answering Service
Marketing & Advertising
- Online Ads (Google, Facebook)
- Lead Generation (Nearleap)
- Website Costs
- Business Cards/Print
- Vehicle Wrap/Signage
- Promotional Items
- Sponsorships
- Trade Show Fees
Communication & Technology
- Cell Phone (business %)
- Business Phone Line
- Internet (business %)
- Software Subscriptions
- Cloud Storage
- Computer/Tablet
- GPS/Fleet Tracking
Education & Licensing
- Trade License Fees
- License Renewal
- Certification Courses
- Continuing Education
- Trade Publications
- Industry Conferences
- Professional Association Dues
Business Operations
- Rent (Office/Shop/Storage)
- Utilities
- Bank Fees
- Credit Card Processing
- Postage/Shipping
- Business Meals*
- Travel
- Job Permits
- Bonding Fees
- Business Loan Interest
Retirement Contributions
- SEP-IRA
- Solo 401(k)
- SIMPLE IRA
Quarterly Estimated Tax Dates
| Quarter | Income Period | Due Date | Estimated Payment |
|---|---|---|---|
| Q1 | Jan 1 - Mar 31 | April 15 | $11,368 |
| Q2 | Apr 1 - May 31 | June 15 | $11,368 |
| Q3 | Jun 1 - Aug 31 | September 15 | $11,368 |
| Q4 | Sep 1 - Dec 31 | January 15 (next year) | $11,368 |
| Annual Total | $45,473 | ||
Record-Keeping Tips
What to Keep
- Receipts for all business purchases
- Bank and credit card statements
- Mileage log with dates, destinations, business purpose
- Home office measurements and photos
- Client invoices and payment records
- 1099 forms from clients
Best Practices
- Use a separate business bank account
- Track expenses weekly, not yearly
- Use accounting software or apps
- Take photos of paper receipts
- Keep records for at least 7 years
- Review quarterly with your accountant
Important Disclaimer
This calculator provides estimates for educational purposes only. Tax laws vary by state and change frequently. Your actual tax liability depends on many factors not covered here. Always consult with a qualified tax professional or CPA before making tax decisions. This tool does not constitute tax advice.
Maximize Your Deductions with More Business
More revenue means more deductions and faster business growth. Nearleap connects you with homeowners actively searching for your services. Lead generation costs are 100% tax deductible.
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