With tax season upon us, many small business owners may be facing one of the most daunting tasks: their taxes. This is actually one of the biggest areas where small business failure occurs. There are a lot of deductions that many small business owners simply don’t know about, and missing them can end up costing a lot. You want to deduct as many expenses as possible, of course, so here is a list of some commonly overlooked ones.

• Gas. If you’re using your own car to run business errands or to go on a business trip, you can fill up your tank and deduct that expense. Just be sure you’re only doing business-related errands.
• Postage. If you mail a lot of things for your business, be sure to deduct the cost. If you have a PO Box for work-related mail, deduct the cost of renting it as well.
• Office space. If you have a room in your home solely dedicated to your business, you can actually deduct a portion of your rent or mortgage. You have to figure out what percentage your office space is, then figure that percentage of your rent.