Starting your own business isn’t just about chasing dreams—it’s a smart financial move, especially when it comes to taxes. Whether you’re building an online business, launching a side hustle, or registering a business in Invest With UsMaryland, there are major tax advantages that can save you thousands each year.
At SK Global Mart, we help entrepreneurs not only start strong, but also take advantage of every legal benefit—including tax breaks that employees simply don’t get.
1. Deduct Business Expenses
As a business owner, many of your day-to-day costs become tax-deductible. These include:
- Office supplies and software
- Website and hosting costs
- Marketing and ads
- Travel expenses
- Business meals
- Phone and internet bills
- Professional services (like your accountant or SK Global Mart!)
These deductions reduce your taxable income, meaning you keep more of your profits.
2. Home Office Deduction
Running your business from home? You may qualify for the home office deduction, which lets you deduct a portion of your rent/mortgage, utilities, and maintenance—just for using part of your home as a workspace.
Even a small business or online store qualifies, as long as you use the space regularly and exclusively for business.
3. Write Off Your Vehicle and Travel
If you use your car for business (even occasionally), you can deduct mileage, maintenance, and gas costs. If you travel for vendor meetings, events, or business expansion, hotel stays, flights, and meals may also be deductible.
SK Global Mart can help you track and report these expenses properly.
4. LLC & S Corp Tax Advantages
Registering your business as an LLC or S Corp offers even more flexibility. These structures allow you to:
- Avoid double taxation
- Split your income between salary and distributions (S Corp)
- Protect personal assets from business liability
- Qualify for business banking, credit, and tax breaks
Our team at SK Global Mart helps you set up your LLC in Maryland or any other U.S. state quickly and affordably.
5. Self-Employed Retirement & Healthcare Plans
As a business owner, you can open special retirement accounts like SEP IRAs or Solo 401(k)s, which offer much higher contribution limits than employee plans—and your contributions are tax-deductible.
You can also deduct health insurance premiums if you’re self-employed, including those for your spouse and children.
6. The Qualified Business Income (QBI) Deduction
Under IRS rules, many small businesses qualify for a 20% deduction on qualified business income—meaning you pay taxes on only 80% of your income.
It’s one of the biggest tax benefits for new entrepreneurs, especially if you run a service-based business or online store.
7. Depreciation & Equipment Write-Offs
If you purchase computers, furniture, tools, or machinery, you may be able to deduct the full cost in the year of purchase using Section 179, or spread it out over several years using depreciation.
This is a big plus for those starting physical businesses or investing in technology for remote work.
Final Thoughts: Keep More, Build More
When you start a business, you move from being taxed as an employee to operating like an owner—and that opens the door to real savings. From deductions to tax credits, being self-employed gives you the power to maximize your income and build wealth on your terms.
At SK Global Mart, we’re here to help you start your business in Maryland or anywhere in the USA, create a solid legal structure, and take advantage of every tax break available.
Ready to Save on Taxes & Start Smart?
👉 Contact SK Global Mart to set up your LLC
👉 Book a free consultation to discuss your business idea
👉 Start your online business the right way—with financial and legal guidance you can trust
Let your business work for you—even during tax season.