07/14/2026
Happy Tuesday Everyone!
Todays: π¬ Myth vs. Fact
Myth: "If I have an LLC, everything I buy is automatically tax deductible."
Fact: Only ordinary and necessary business expenses qualify. Simply owning an LLC doesn't make personal purchases deductible.
Examples of deductible business expenses may include:
βοΈ Office supplies
βοΈ Business software and subscriptions
βοΈ Advertising and marketing
βοΈ Professional licensing fees
βοΈ Business insurance
βοΈ Equipment used for your business
βοΈ Mileage or vehicle expenses (when used for business purposes)
Examples that are generally NOT deductible just because you have an LLC:
β Personal groceries
β Family vacations
β Everyday clothing (unless it qualifies as a required work uniform)
β Personal household bills unrelated to your business
β Personal shopping
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