Disrupt Your Money
It’s a Write Off, Right?! Tax Deductions for Small Business Owners
Published: 18 February 2025 at 12:00 UTC
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Episode notes
Taxes don’t have to be scary! In this episode of Disrupt Your Money, host Meg K. Wheeler, CPA, Financial Educator, and Founder of The Equitable Money Project, breaks down the best tax deductions for small business owners. Forget the dry tax lectures—this episode keeps it light, actionable, and designed to help you keep more of your hard-earned money. If you’re a marginalized business owner, this knowledge is even more critical, as the system wasn’t built with you in mind. Let’s reclaim what’s ours!
What You’ll Learn in This Episode:
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The home office deduction: what qualifies and how to make the most of it
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Self-employment tax deduction: why it exists and how to claim it
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Business meals: yes, your working brunch counts (if you do it right!)
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Education and training: why investing in yourself is tax-deductible
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Health insurance premiums: how to offset this major expense
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Software and subscriptions: the business tools that can lower your tax bill
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Retirement contributions: setting yourself up for future wealth while saving on taxes
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The golden rule of tax deductions: document everything!
Mentioned in This Episode:
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Book Recommendation: Invisible Women: Data Bias in a World Designed for Men by Caroline Criado Perez. Purchase your copy at EquitableMoneyProject.com/READ.
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Money Mindset Coach Highlight: Justine Nelson (@debtfreemillennials_ on Instagram)
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Listener Question: How can small business owners protect themselves financially if there are new tax laws or regulations that favor larger corporations after the 2024 election?
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This podcast is hosted by Meg K. Wheeler, CPA and Biz Money Coach and Founder of the Equitable Money Project. Meg is on a mission to turn online educators, service providers and coaches from Not Numbers People to Badass Money Makers. Are you ready to Disrupt Your Money? Learn more about Meg here!
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Need to get your money stuff set up right? Check out our financial foundations course the Biz Money Blueprint!
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Submit Your Questions - DisruptYourMoney.com
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This podcast is intended for informational & educational purposes only and is not intended as professional financial advice.
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Connect with Meg across social:
Instagram- Equitable Money Project
Song Credit: Midnight Specials by Ash Nino