What You Should (and Shouldn’t) Write Off for Your Business

Are you maximizing your small business tax deductions or leaving money on the table? In this episode, we break down how to navigate IRS business expenses so you can stay compliant and keep more of what you earn.Ryan Derousseau, CFP®, EA, clarifies the often-confusing world of "write-offs." We dive into the specific rules for solo entrepreneurs, helping you distinguish between legitimate deductions and common tax mistakes that could trigger an audit.What you'll learn in this video:• The IRS definition of "ordinary and necessary" business expenses• How to correctly claim the home office deduction and travel expenses• The truth about business meals and entertainment write-offs in 2026• Critical record-keeping habits to protect your small business from audits• Why tax planning is more effective than just chasing deductionsStop relying on social media for tax advice. This guide for 1099 contractors and freelancers provides a strategic framework for reporting income accurately while utilizing legal business tax breaks to support your long-term financial health.Whether you’re a new business owner or have been self-employed for years, this episode helps clarify what you can (and can’t) write off so you can avoid mistakes and feel more confident at tax time.—Connect with Ryan Derousseau, CFP®, EAEmail: [email protected] LinkedIn: https://www.linkedin.com/in/ryanderousseau/Website: https://thinkingcapfinancial.com/