Planning to file your business taxes soon? Wait. I’ve been seeing a lot of NC business owners leave serious money on the table because they don’t know about deductions that changed this year.
Whether you’re a sole proprietor filing by April 15 or you’re an S-corp, C-corp, or partnership that extended and you’re working on your final return, these business tax deductions NC owners need to know about could save you thousands. We’re here to help you claim everyone.
Bonus Depreciation Is Back at 100%
This is big news. Bonus depreciation went back to 100% for equipment you bought after January 19, 2025. That means if you purchased computers, machinery, vehicles, or equipment for your business, you can write off the entire cost this year instead of spreading it out.
This applies to used equipment, too. Bought a used truck for your business? That qualifies. The IRS expanded what counts as qualifying property, so you might have more write-offs than you think.
Home Office Deduction Gets Overlooked
Run your business from home? You can deduct a portion of your rent or mortgage, utilities, internet, and home repairs. The IRS offers two methods: simplified or regular. Regular takes more paperwork but usually saves more.
If you upgraded your home office in 2025 – new desk, chair, lighting – those are separate deductions on top of the space itself.
Mileage Adds Up Fast
The standard mileage rate for 2025 was 70 cents per mile. Driving to meet clients, pick up supplies, or handle business errands? Those miles add up quickly. But the IRS requires documentation – either a mileage log or tracking app. Good news – the rate increased to 72.5 cents per mile for 2026, so start tracking now for next year’s return.
If you use your vehicle more than 50% for business, the actual expense method might save you more. That’s where we help – we run both and use whichever is better for you.
Retirement Contributions for Self-Employed
Self-employed? You can put up to $72,000 in a SEP-IRA or solo 401(k) for 2026 and deduct every penny. That’s a massive tax break that reduces your taxable income while building retirement. You have until your filing deadline (including extensions) to make these contributions and still count them for 2026.
Don’t Leave Money on the Table
Filing your business taxes isn’t just about avoiding penalties. It’s about paying what you actually owe – not a dollar more. These deductions exist for a reason, and NC business owners who know how to use them keep more money in their business.
Here’s the thing – if you file without knowing what you qualify for, you can’t go back and claim it later without amending your return. That’s extra work and extra cost.
Let’s Get Your Business Taxes Done Right
Tax season is still in full swing and we’re taking appointments now. You don’t have to be in Asheboro – we offer virtual tax services for business owners across North Carolina and beyond.
Book your free 15-minute consultation and let’s make sure you’re claiming every deduction you’ve earned. We handle small business tax preparation, bookkeeping, and payroll services – so you can focus on running your business.
Don’t file without talking to us first. Schedule today and stop leaving thousands on the table.
Gibson Tax & Accounting | Serving NC Business Owners Virtual Services Available | Book Now
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