From the LDW Blog

At LDW Tax & Accounting Services, we believe financial confidence starts with knowledge. Our blog shares practical tax tips, business insights, and money management strategies to help you stay organized, compliant, and financially strong — year-round.

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3 Tax Deductions Most People Forget

Every year, taxpayers leave hundreds — sometimes thousands — of dollars on the table simply because they overlook common deductions. Whether you’re a small business owner, freelancer, or working professional, it pays (literally!) to know which expenses you can legally write off.

Here are three often-forgotten tax deductions that could lower your tax bill this year:

 

1️⃣ Home Office Deduction

If you work from home — even part-time — you may qualify for the home office deduction. This applies to a space used exclusively and regularly for business.
You can deduct a portion of your:

  • Rent or mortgage interest

  • Utilities (electricity, internet, water)

  • Home maintenance and cleaning

💡 Pro tip: The IRS simplified this with a $5 per square foot option (up to 300 square feet).

 

2️⃣ Continuing Education & Professional Development

Did you take an online course, attend a seminar, or renew a professional license this year? If the expense helps you maintain or improve your skills in your current profession, it’s deductible!

Examples include:

  • Online business or accounting classes

  • Certification renewal fees

  • Webinars or workshops related to your field

💡 Pro tip: Keep your receipts and documentation in a digital folder labeled by tax year — your future self will thank you.

 

3️⃣ Mileage & Travel for Business

Business-related mileage can add up fast, but many people forget to track it. You can deduct travel for:

  • Client meetings

  • Supply runs

  • Bank trips or post office visits

💡 Pro tip: Use an app like MileIQ or QuickBooks Self-Employed to automatically log and categorize your trips.

 

Final Thoughts

Small deductions add up! Keeping track of your expenses throughout the year ensures you don’t miss out on valuable tax savings. A few extra minutes of record-keeping can lead to a smaller tax bill and/or bigger refund.

If you’re unsure whether an expense qualifies, LDW Tax & Accounting Services is here to help. We’ll make sure you maximize your deductions and stay fully compliant with IRS rules.

LDW Tax & Accounting Services — ...because knowledge and experience matters.