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6+ Deduction Checklist Templates

To make sure that you incur a lower tax bill, you must be applying deductions on your taxable income. A deduction checklist template might be useful in helping you in the face of an audit, making you remember what to claim. It is effective to itemize the records and keep it organized in a document so you can file your returns with ease and confidence.

42+ FREE CHECKLIST Templates - Download Now Adobe PDF, Microsoft Word (DOC), Microsoft Excel (XLS), Google Docs, Apple (MAC) Pages, Google Sheets (Spreadsheets), Apple (MAC) Numbers

5 Steps to Write a Deduction Checklist

Step 1: Refer to Previous Year’s Return

If you are facing difficulty in starting with your deduction checklist, it can be helpful to refer to the previous years’ return. You can make a list of the necessary information and documents that will be useful for you to file your upcoming return and claim the deductions.

Step 2: Procure All the Documents

It is a bad idea to file a return in a hurry when all your supporting documents are not in place. While filing tax returns your documents act as the primary proof of your claims, hence unless you have the proper documents your deduction claims might go in vain. Your checklist will require you to refer back to your documents, so organize them properly.

Step 3: Include Major and Minor Life Occurrences

If you had been through a marriage, a divorce, parenthood, medical conditions or expensive higher education programs, the associated expenses must reflect on your tax return. Whenever you are going through these major events, your standard expenditure will deviate hence your deduction claims may also vary.

Step 4: Include License and Permits

If you are into a business that requires you to renew the licenses and permits annually or in another periodic form, you should add them to your deduction checklist. The extra expenditure going into the renewal of these documents can be claimed as a part of your deductions.

Step 5: Include Renting and Lease Costs

If you are using an office which is in a rented space or have taken an office on lease for a certain period of time, you should include them in your deduction checklist. These payments can be claimed while filing a return, provided you have the necessary details and documents.

6+ Deduction Checklist Templates

1. Restaurant Tax Deduction Checklist Template

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File Format
  • Google Docs
  • Word
  • Pages

Size: US & A4

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If you are running a restaurant business, you would want to minimize your tax liabilities with this creative tax deduction checklist document. This restaurant daily checklist template is helpful for owners of restaurants to fill up and comply which can be used to determine the deductions in their annual tax returns. This can help you to develop your business further and save money for future investments. We strongly recommend this premium template, because it’s highly professionally designed and adds real value to your processes.

2. Business Deduction Checklist Template

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File Format
  • Google Docs
  • Word
  • Pages

Size: US & A4

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When you are running a business, the reduction in the expenses can vary a great deal, which you can determine with the help of this cool business deduction checklist. It helps organize your operations and can also serve as a reminder. It is easily editable and can be personalized according to your specific requirements with very little effort. So get this fully customizable template now!

3. Complete Deduction Checklist Template

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File Format
  • Word
  • Pages

Size: US & A4

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This deduction checklist sample is a complete document that can be applied to any business. This can prove to be the perfect document that will make your business more organized and claiming your deductions more easy at the time of filing returns. It can be easily downloaded in US letter and A4 sizes and can be edited using MS Word or Pages application. The template is so comprehensive that you want to edit and remove some of the checkpoints!

4. Itemized Deduction Checklist Template

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File Format
  • PDF

Size: 105 KB

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Do you want to claim your deductions from medical expenses, tax returns, charitable contributions, etc? Well, this itemized deduction checklist sample template can’t be more suitable for you. It provides itemized checklists for all the above categories and can be instantly downloaded and used. Whatever be the business that you are running, this template with its detailed format and all-encompassing structure can impact your business’s growth considerably. Because this template itemizes the checkpoints across categories, using it is not exhausting for users.

5. Vibrant Deduction Checklist Template

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  • PDF

Size: 27 KB

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This is a detailed checklist example template that can come in handy if you are looking for solutions to your tax return and deduction claims. It has a vibrant feel to it and also focuses on the main points of claiming returns like receipts, slips and other important documents. It has a simple format that can be edited at will by inserting fields that suit your business and can be expected to yield a great result while filing returns. Download and you’d know for yourself.

6. Professional Deduction Checklist Template

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  • PDF

Size: 970 KB

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If you are looking for a professional tax deduction checklist example that can help in referencing an easy guide to the various types of business deductions that can be claimed, well then this is the one for you. Before you calculate the deductibility of the outgoing, your particular circumstances as a tax-payer should be taken into account. This template demonstrates how to decide on your deductions and gives you an advantage before you are filing the returns. This template will offer you everything you want to know about tax deductions.

7. Smart Deduction Checklist Template

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File Format
  • PDF

Size: 76 KB

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Though businessmen get more tax benefits than employees, they seldom take advantage of the tax deductions they are legally entitled to. This smart and professional deduction checklist format ensures that you capture all your business expenses and your tax bill is minimized. So without delay, use it as a guide and save the most on your tax returns. The content and checkpoints covered in this guide are attuned to the needs of small businesses.

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