Disrupt Your Money: Liberation through Financial Education for Marginalized Business Owners

It’s a Write Off, Right?! Tax Deductions for Small Business Owners

Meg K. Wheeler Season 1 Episode 3

In this episode of Disrupt Your Money, we call BS on the idea that “it’s all a write-off, right?” and actually walk through what does and doesn’t count as a legit tax deduction for small business owners. Meg breaks down key write-offs in plain language so you can stop guessing, stop leaving money on the table, and start using the tax code to your advantage instead of just fearing it.

Framed through a liberation lens, she talks about why tax knowledge is a form of self-defense—especially under a new administration that’s more likely to prioritize big corporations and the wealthy than marginalized business owners. This isn’t a dry tax seminar; it’s about reclaiming resources in a system that wasn’t built for you and using every legal deduction you’re entitled to.

You’ll leave with both practical, actionable tax ideas and a reminder that your financial strategy is deeply political.

⏱️ In This Episode:
00:00 Introduction: Why tax deductions are a tool of resistance
01:57 Home office deduction: what actually counts as “exclusive use”
03:04 Self-employment tax
03:27 Business meals that actually qualify as write-offs
04:04 Education & training
04:38 Health insurance premiums as a major deduction for self-employed and marginalized business owners
05:14 Software, subscriptions & your website as “ordinary and necessary” business expenses
05:57 Retirement contributions (Solo 401(k), SEP IRA) as a double-win
06:54 The golden rule of deductions
07:17 Why you should care: the financial inequities facing trans communities
09:08 Book spotlight: Invisible Women by Caroline Criado Perez
11:01 Money Mindset with Justine Nelson (Debt Free Millennials)
12:20 Listener Q&A

🔗 Mentioned in This Episode:

👉 Invisible Women: Data Bias in a World Designed for Men by Caroline Criado Perez featured in Meg’s book review; grab it via her reading hub at EquitableMoneyProject.com/read

👉 Debt Free Millennials with Justine Nelson

👉 Call Your Representatives – Meg’s weekly Substack with scripts to contact your lawmakers

👉 Submit your listener question for a future episode → https://disruptyourmoney.com

💬 Connect with Us:
🌐 Website → https://equitablemoneyproject.com
📸 Instagram → https://instagram.com/equitablemoneyproject
🎧 Podcast → https://equitablemoneyproject.com/podcast

🚀 Your Next Step:
Ready to make your money match your values? Download our free Wealth is Resistance Action Kit → https://equitablemoneyproject.com/kit