BOLINGBROOK, Ill., Feb. 13, 2026 /PRNewswire/ -- Every year, many small business owners in Illinois miss out on valuable tax deductions that could significantly reduce their tax burden. In a HelloNation article, Karen Eberhart Metcalfe of Eberhart Accounting Services, PC in Bolingbrook, Illinois, offers professional insight on how business owners can identify commonly missed opportunities, organize their business expenses, and achieve meaningful tax savings.

Karen Metcalfe explains that while the tax code offers numerous advantages for small business owners and self-employed professionals, many fail to take full advantage simply because they don't track or categorize expenses effectively. The key to maximizing tax deductions lies in awareness and organization. When Illinois businesses keep good records and understand what qualifies, their everyday spending can translate into significant tax savings.

One of the most overlooked deductions involves vehicle mileage. Business owners who use their personal vehicle for work-related tasks, such as meeting clients, attending events, or picking up supplies, can deduct that mileage. The IRS allows business owners to choose between tracking actual expenses or using the standard mileage rate. Using mileage-tracking apps or digital logs throughout the year helps ensure accuracy and consistency.

The HelloNation feature also highlights the home office deduction, a powerful yet frequently misunderstood opportunity for self-employed individuals and remote workers. A portion of rent, mortgage, utilities, and insurance may be deductible if a space is used exclusively and regularly for business. The IRS simplified option, based on square footage, makes this deduction easier to calculate while maintaining compliance.

Business owners should also review recurring costs like phone and internet services. Since most professionals use these for both personal and work purposes, a portion of the bills can be deducted based on business use. Small adjustments like this can add up to considerable tax savings over time.

Office supplies and equipment represent another category of business expenses that many entrepreneurs fail to track completely. Small purchases, like ink, paper, or software subscriptions, often go unnoticed, but over a year, those expenses can add up to hundreds or even thousands of dollars in deductions.

Professional fees also play an important role in legitimate tax savings. Payments to accountants, bookkeepers, consultants, and attorneys are fully deductible. Working with a tax professional not only ensures compliance but often leads to uncovering additional deductions that might otherwise be missed.

Business travel, meals, and education-related costs are other deductible areas that can benefit Illinois business owners. When travel and dining are directly connected to business activity, airfare, hotel stays, and 50 percent of meal costs can be claimed. Similarly, attending training sessions, conferences, or online courses that improve professional skills qualifies as a deductible business expense. Investing in professional development not only strengthens a business but also provides legitimate tax advantages.

Retirement plan contributions are another effective way for self-employed individuals to lower taxable income. Contributions to SEP IRAs, Solo 401(k)s, or other qualified retirement plans can be deducted, offering both immediate tax savings and long-term financial benefits.

Charitable giving provides an opportunity to give back to the community while reducing taxable income. Donations of money or goods to qualified organizations can be deducted if properly documented. Many small business owners donate time or resources to local causes without realizing those contributions may qualify as tax deductions.

Accurate recordkeeping is the foundation of every successful tax strategy. Separating business and personal expenses, maintaining digital receipts, and tracking costs throughout the year make it easier to claim every eligible deduction confidently and accurately.

For Illinois businesses, the tax code provides plenty of opportunities, but realizing those opportunities depends on how well expenses are organized and documented. The right system and professional guidance can help business owners make their spending work harder for them and achieve consistent tax savings year after year.

The article, Tax Deductions You Might Be Missing, features insights from Karen Eberhart Metcalfe, Accounting Expert of Bolingbrook, IL, in HelloNation.

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