Just in time for April 15th, the fifth and final ABCs of tax deductions.

P
* Passport fees
* Pension plans
* Periodicals                                                                   
* Physical fitness center
* Plotting of land for sale
* Postage
* Professional society dues
* Property depreciation                                              
* Property maintenance                                               
* Property repairs fees
* Publicity expenses                                                 
                                                                          

R                     
* Real estate expenses of rental or investment property, including:
a) Taxes of property   
b) Insurance                                               
c) Janitorial service                                     
d) Repairing                                              
e) Redecorating                                           
f) Painting                                                                                                                                       
g) Depreciation
h) Supplies                                                                      
i) Tools
j) Legal expenses involving leases, tenants or property
k) Bookkeeping
l) Property management                                     
m) Utilities                                                        
n) Commissions to secure tenants                        
o) Maintenance (heating, lighting, etc.)
p) Advertising for tenants                                       
q) Cost of manager’s unit, if on site and at employer’s convenience                                                      
* Rebates of sales                                                         
* Refunds on sales                                                   
* Rent settlement, cancel lease                
* Rental property expense, such as:
a) Advertising if vacant premises           
b) Commissions to secure tenant                                     
c) Billboards and signs               
* Rent collection expense
* Rents paid, such as:
a) Business

property                                                
b) Parking facilities                                                
c) Safe deposit boxes                                               
d) Taxes paid by tenant for landlord
e) Warehouse and storage charges
* Repairing of business property, such as:
a) Alterations, provided they are not capital additions
b) Casualty damages                                       
c) Cleaning                                               
d) Minor improvements
f) Redecorating
g) Repairing of furniture, equipment, machinery
h) Roof repairs
* Royalties

S
* Safe deposit box rental
* Safe or storage rental
* Salaries including bonuses, commissions, pensions, management
* Sample room 
* Selling expenses, such as:
a) Commissions and bonuses as prizes
b) Discounts
c) Entertainment
d) prizes offered in contests
e) Publicity and promotion costs
f) Rebates
* Services, professional or other necessary for conduct of business
* Social Security taxes paid by employers
* Stationary and all other supplies used
* Subscriptions to all trade, business or professional periodicals
* Supplies, office or laboratory

T
* Taxes, all taxes paid (except federal income taxes) such as:
a) City Gross receipts
b) City Sales tax
c) State Gross receipts
d) State sales tax
e) State unemployment insurance tax
f) Federal social security tax
g) State income tax
h) State unincorporated business tax
i) Real estate tax
j) Tangible property tax
k) Intangible property tax
l) Custom, import or tariff tax
m) License tax
n) Stamp taxes
o) Any business tax, as a rule
p) Auto registration tax
q) Sale deposit tax
r) Membership dues tax
s) Gasoline tax
t) Admission tax
* Telephone and telegraphs
* Travel expenses (includes: meals, taxi fare, rail fare, airfare, tips, telephone, telegrams, laundry and cleaning, entertainment for business

U
* Unemployment compensation taxes paid by employer
* Uniforms furnished to employees

W
* Wages
* Worker’s compensation fund contributions

Drew Miles is founder of financial education company Pathfinder Business Strategies, LLC. Formerly a New York attorney, he now specializes in tax saving strategies and entity structuring. Visit www.save10kintaxes.com to learn more.