Are you a massage therapist wondering if your expenses are tax deductible? The answer is yes, but there are some conditions. Generally, any expense that is “ordinary and necessary” for your massage therapy business is deductible. This includes costs associated with space, such as electricity and water bills, as well as the cost of supplies like massage oils, lotions, and aromatherapy. If you use your phone for work, then it's partially deductible too.
However, it's important to remember that you must have had a business intention when you spent the money. This is especially true for expenses that could be considered personal or business, such as massages and travel. When filing your taxes, make sure to keep track of all your expenses and receipts. This will help you maximize your deductions and ensure that you don't miss out on any potential savings.
With the right documentation, you can rest assured that your massage therapy business expenses are tax deductible.
