This is only a quick & Dirty partial list of what is available to reduce 'taxable income'
Marketing: Facebook Ads, Google Adwords, ad placements in digital and print publications, ad placements on websites, sponsored ad placements on seller platforms (like Etsy, Amazon, eBay), email marketing software, fees for sponsored content by influencers, and more.
Website stuff: Domain names, hosting, subscription website services (Wix, Squarespace) themes, plugins, stock photos, and other things you buy for your website.
Auto: Think you don’t drive as an online business owner? Think again. While you may not commute to clients and job sites, you’re probably driving to the post office, office supply store,
Bank fees: You can deduct monthly service fees, ATM fees, overdraft fees, deposit fees, and wire transfer fees.
Credit card fees: This includes annual fees and late payment fees
Cost of Goods Sold (COGS): is a special type of expense that pertains to the cost you, the seller, absorbs to manufacture or sell an item. This is anything directly or indirectly related to the cost of creating your product.
Home internet: If you run your online business from home, you likely use A LOT of internet. The cool part is that you can write off a portion of your home internet bill. The percentage is based on how much of your home internet is for personal vs. business use.
Photo Equipment: Expenses that you can typically deduct if they’re under $2,500 includes:
Equipment like a camera, video camera, lens, and flash.
Supplementary equipment like lighting, tripods, filters, camera bags, backdrop stand, and paper.
Seller fees: You can deduct the fees you pay to sell your items on popular ecommerce platforms or to host an online storefront. These are not fees to process credit cards but rather fees to use the platform to sell your products. (eBay FVF)
Shipping & Packaging: Packaging materials like boxes, envelopes, packing peanuts, bubble wrap, packing tape, and labels.
