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Mountain View, CA—Even though jewelers’ attention is focused entirely on getting merchandise out the door and into the hands of consumers, it’s always good to have a reminder about which expenses related to getting that merchandise moving are tax deductible.

A recent article on Intuit.com offers these quick tips for keeping track of which expenses can be deducted from your taxes:

• Business related travel, including but not limited to visits to clients, conferences, and tradeshows.
• Self-improvement. This includes the cost of training manuals, books, or classes that will help you improve in your current career—but not to switching careers. So if you want to become a graduate gemologist or jewelry appraiser, it’s tax deductible; if you want to become a veterinarian, that’s on you.
• Shelter and power. If you work from home and qualify for a home-office deduction, then in addition to the percentage of rent or mortgage you can deduct, you also can deduct the cost of improving your space, including comfort. Hang onto your electric bill and don’t feel guilty about cranking up the heat or a/c.
• Advertising: The cost of selling your talents or trustworthiness is a legitimate price of doing business, says the IRS. You can deduct the cost of advertising, developing a website, printing business cards, and so forth.
• Equipment used solely to run your business is deductible.
• Startup costs: up to $5,000 in startup costs such as attorney or accountant fees are deductible in your first year of business.
• Health insurance for you and your family may be deductible if you’re self-employed.
• The cost of trashing mistakes: Businesses can take a tax deduction for products they can’t sell—if they destroy them before the end of the year. (But jewelers, beware: breaking apart jewelry to re-use components may not be considered “destruction” in the eyes of the IRS.)

And here are five more you may be overlooking.

Top image: Interexchange.org