With tax season just around the corner, it is never too early to start thinking about available tax deductions. Small-business tax deductions are important in ensuring that you are getting all the return that is possible. Some tax deductions for small businesses are:
* Office furniture
* Office equipment and supplies
* Software and other subscriptions
* Insurance premiums
* Retirement contributions

In addition to these deductions, there are a few others that should be kept in mind while filing. Simply keeping good records throughout the year will help make calculations at tax time less stressful.

Social Security - If you are self-employed or a small business, you have to pay double the Social Security as both the employer and the employee. The good news is that you can claim back half on your 1040.

Home Office - If you have a room in your house that is occupied exclusively for your small business, it may be used as a deduction. To qualify, the room cannot be used for any other purposes than business. You can claim a percentage of rent or mortgage and utility bills based on the square footage of your office area in relation to the square footage of the house.

Mileage - Keep a journal in your vehicle of all small-business-related travel and expenses. At the end of the year, these can be claimed in one of two ways: They can be deducted as a straight calculation of mileage times the allocated rate plus other expenses, or they can be calculated as a percentage of the total mileage on the vehicle plus expenses.

Travel and Gifts - Hotel stays, travel on airlines or other forms of transportation, and business gifts are all deductible. Saving receipts is critical to be able to calculate this at tax time.

Children as Your Employees - If you are the sole proprietor of your small business and you employ your own child under age 17, that child can make up to $4,850 and avoid paying any taxes. You will not have to pay Social Security tax and you can write the salary off as a business expense. This same policy applies if you and your spouse are in partnership together and there are no other partners. It does not apply if you are a corporation.

Whether you take your tax forms to a professional or choose to handle them yourself, research the deductions available to you to make sure you are getting your fair share while still giving the government its own.