As internet entrepreneurs making money online or running a business, you’re going to need to budget and deal with taxes. Since I’m getting more into the business aspects with my online entrepreneurship, I figured I would get you guys a list of tax deductions for 2009 so you can deduct as many things as you can to save money.

I already mentioned on previous posts Tax Deductions for Self Employed and Tax Deductibles for Self Employed Online Entrepreneur a few of the big things you can deduct but below is a bigger list that I tried to get together for those of you guys that will be doing your taxes for your online businesses.

On this post, I will try to list as many things as I can that you should be able to deduct mainly regarding your online stuff. This is to help you guys out especially if this is the first time you’re doing taxes for your online business… or maybe you just want to find out more things you can deduct.

Okay, so here we go…

- Office Rent
- Utilities for your work space (electricity, internet, work phone)
- The interest on business loans
- Work supplies (for instance, you need a desk, chair and computer to work online)
- Rental of business property
- Repairs and maintenance (computer crashed and you paid to get it fixed)
- Domain names
- Web hosting
- Travel (for instance, you go to an affiliate convention or something business related)
- Car mileage for business
- Advertising (Google Adwords, paying for reviews or ad spots)
- Hired Help (paying for an article writer, someone to design your site, consulting, your employees)
- Partial self-employed health insurance (it’s required in MA to have health insurance so it gets pretty costly)
- Business insurance
- Printing and Copying
- Postage
- Entertainment and Meals (business related entertainment and meals but I believe only half is deductible… for instance, you take a potential client out to a sports event)
- Research, Education, Books (paying for eBooks, learning how to do something to helps your online business)
- Charitable Donations or Gifts (for instance, you donated your old laptop)
- Professional services for your taxes (hey, if you’re paying someone to do it for you, you might as well save money doing it!)
- Stock and Business Losses

I’m sure there are a lot more but these are the ones that I can think of right now. I think you can write off just about anything directly related to your business and I believe you have to have made a certain amount within the year as well.

When it comes down to it, I would consult with an accountant or professional because everybody is different, every state has different tax related things you should know about and so on and so on. But you can feel free to ask questions here and I can do my best to help out too!