A deduction is anything you spend or incur in your business that is an expense of some sort. It’s a deduction against the revenue of your business, whether it’s a cost of goods, an expense, or even a home office deduction.
As a business owner, one of the most important things you need to do is to find ways to reduce your taxes. Reducing your tax is 100% legal so there’s no reason to be intimidated or scared.
Have you hit your financial milestone as an LLC? Are you now in a position where you’re getting a net income? If so, there are things you can do to help you save on your taxes. Because you could actually be overpaying in tax to some degree, depending on your situation.