Do you pay snow removal fees for any type of commercial property? If so, you can probably reduce your taxes a bit. If you pay snow removal fees for a place of business or for a rental property, for example, you should be able to deduct those expenses.
But if you work out of your own home, you might also be able to deduct part of what you pay for snow removal services. That’s because the IRS permits deductions for home expenses if a portion of your home is used solely for business purposes – a home office, for example.
Tax-Deductible Operating Expenses
Any property, whether private or commercial, requires ongoing expenditures for upkeep and maintenance. Those costs are classified as operating expenses by the IRS. And snow removal costs are considered a legitimate and necessary operating expense.
So if your property is used fully or partly for business, you can deduct at least a portion of those expenses from your taxes. It’s a deduction that is quite often overlooked.
Just a heads-up from TLC, in case you’ve overlooked this particular tax deduction opportunity (many people do).