Deductions

What is deductible, what evidence it needs, and what you are currently missing.

Deductions in SigmaPointPi
/tax/deductions

Deductions are tracked as transactions are categorised rather than assembled at year end. The difference is that a missing receipt is recoverable in March and gone in the following January.

Each category states what substantiation it requires, because the rules differ and the difference is where deductions get disallowed.

Where everything sits

YTD Deductions
YTD Deductions
Verified
Verified
Pending Review
Pending Review
Monthly Average
Monthly Average
Category Breakdown
Category Breakdown
By Category
By Category

How to work this page

Work the missing receipts list weekly

It takes minutes weekly and days annually.

Watch the categories with special rules

Meals, vehicle, home office and travel each carry their own substantiation requirements and their own limits.

Record the business purpose

For anything that could be personal, the purpose is part of the evidence. A receipt alone is not enough for a meal.

Review the year-to-date total

It feeds the quarterly estimate, so a category that is understated raises what you pay.

On a phone

Deductions on iPhone 15 Pro Max

Every figure from the desktop appears here, stacked rather than reduced. Tables scroll inside themselves so the page never moves sideways, and figures keep their separators and their alignment at every width.

Questions people actually ask

What is the most commonly lost deduction?

Vehicle, because contemporaneous mileage records are required and reconstructing them afterwards rarely holds up.

Are meals fully deductible?

The limit varies by year and circumstance. The rate in force for the period is applied and stated rather than assumed.