25 Tax Write-Offs/Deductions for Oil And Gas Contractors

NAICS code: 237990

There is nothing cozier than a warm, comfortable home during the winter. We probably don’t, but saving on taxes sure makes our hearts sing! It’s easy for you to lower your tax bill as an oil and gas contractor. All you have to do is claim the business expenses you run into on a daily basis. Make sure you’re getting the most out of your taxes with our list of the best write-offs for oil and gas contractors. Now is the time to watch those savings soar!

We have put together a list of the most common write-offs for oil and gas contractors that you can use to deduct your expenses.

Safety gear
Write it off using: Schedule C, Box 27a
You can write off anything you wear while working to stay safe.
Trade school tuition
Write it off using: Schedule C, Box 27a
It is possible to write off what you pay if you take courses to learn new skills as a contractor.
Contract labor
Write it off using: Schedule C, Box 11
Contractor fees paid to help you complete projects can be deducted from your taxes.
Machinery & tools
Write it off using: Schedule C, Box 13
Tax deductions are available for heavy machinery and small tools used to complete projects.
Legal fees
Write it off using: Schedule C, Box 17
It is tax deductible to pay legal fees for setting up a business or drafting paperwork.
Union dues
Write it off using: Schedule C, Box 27a
If you belong to a union, go ahead and write off your dues.

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🤝Contracted help

Write it off using: Schedule C, Box 11

Freelancers, contractors, or other services that help you conduct your business are tax-deductible.

Contracted help

Write it off using: Schedule C, Box 11

Freelancers, contractors, or other services that help you conduct your business are tax-deductible.
Phone, laptop, accessories

Write it off using: Schedule C, Box 27a

If buy a phone or laptop and use it for work, it’s partially deductible.
Conferences & retreats

Write it off using: Schedule C, Box 27a

All conferences and retreats you attend to enhance your network can be written off.
Office supplies

Write it off using: Schedule C, Box 18

Deduct anything you buy for your office, like pens, binders, folders, printer ink, or a whiteboard.

If you drive for work ...

You might spend a lot of your time zipping around town to meet clients, finish assignments and do your research among other tasks. Luckily, you can write off car-related expenses like maintenance and gas. Keep these tax write-offs in mind as a growing oil gas contractor.

Parking
Write it off using: Schedule C, Box 27a
Parking for a meeting downtown, or any other work trip, is tax-deductible!
Tolls
Write it off using: Schedule C, Box 27a
A toll while driving to or from a work destination is tax-deductible!
Car purchase & depreciation
Write it off using: Schedule C, Box 13
If you buy a new car, you can write off part of the cost every year for five years.
Vehicle tool kit
Write it off using: Schedule C, Box 22
Flashlights, tire iron, duct tape, and other tools you may need in your vehicle are deductible.
Car insurance & registration
Write it off using: Schedule C, Box 15
Car insurance monthly fees, registration, even roadside assistance are partially deductible.
Car maintenance
Write it off using: Schedule C, Box 9
Oil changes, repairs, and regular checkups are all tax-deductible if you drive for work.

If you discuss work at a restaurant ...

Networking is a core practice of a successful oil gas contractor and it can also be added to your tax write-offs. You likely often meet clients or people in your field at restaurants to chat about work, discuss projects and sign deals. When you do, remember to write off your business meal expenses.

🍔 Business meals
Write it off using: Schedule C, Box 24b
If you discuss work with a coworker, mentor, client, or prospective client, it’s a write-off!

If you leave town for work ...

Meeting an out-of-town client, attending a conference or networking is all part of the job. There are many reasons for you to travel for work as a busy oil gas contractor and they can all be added as tax write-offs. They also count as business trips, so you can write off your travel costs.

Transportation
Write it off using: Schedule C, Box 24a
Planes, trains, and car rentals are all work-related travel costs that can be written off.
Travel lodging
Write it off using: Schedule C, Box 24a
When you travel for work, lodging expenses such as hotel rooms or Airbnb are write offs.
Meals while traveling
Write it off using: Schedule C, Box 24a
When you’re traveling for work, all meals are tax-deductible. Even takeout!

If you work from home ...

When you’re not busy working outside, you might spend your time working from your home as a successful oil gas contractor and many activities count as tax write-offs. These include business plans, promotional work and coming up with new strategies. In this case, don’t forget to write off your home office expenses!

Home office furniture
Write it off using: Schedule C, Box 18
A desk, chairs, lamps, and other home office necessities are all tax write-offs.
Property repairs
Write it off using: Schedule C, Box 21
You can write off up to $2,500 for individual repairs to your property.
Power bill
Write it off using: Form 8829
Gotta keep the lights on in your home office! A portion of your electricity bill counts.
Property insurance
Write it off using: Form 8829
Whether it’s rental or homeowners insurance, you can write off a portion through your home office deduction.
Water bill
Write it off using: Form 8829
It’d be hard to work in an office without running water, huh? You water bill counts.
Wi-Fi bill
Write it off using: Schedule C, Box 25
Your Comcast bill is a tax write-off. You need internet to do your job!

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25 Tax Write-Offs/Deductions for Oil And Gas Contractors

<img decoding="async" class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f9ba.svg" alt="🦺" />Safety gear

<img decoding="async" class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f9d1-200d-1f393.svg" alt="🧑‍🎓" />Trade school tuition

<img decoding="async" class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f6e0.svg" alt="🛠️" />Contract labor

<img decoding="async" class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f3d7.svg" alt="🏗️" />Machinery & tools

<img decoding="async" class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/2696.svg" alt="⚖️" />Legal fees

<img decoding="async" class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f4b5.svg" alt="💵" /> Union dues

File federal & state taxes for Free. Max refund guaranteed.

🤝Contracted help

<img decoding="async" draggable="false" role="img" class="emoji" alt="🤝" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f91d.svg">Contracted help

<img decoding="async" draggable="false" role="img" class="emoji" alt="📱" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f4f1.svg">Phone, laptop, accessories

<img decoding="async" draggable="false" role="img" class="emoji" alt="🌴" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f334.svg">Conferences & retreats

<img decoding="async" draggable="false" role="img" class="emoji" alt="📝" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f4dd.svg"> Office supplies

If you drive for work ...

<img class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f17f.svg" alt="🅿️" /> Parking

<img class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f6e3.svg" alt="🛣️" /> Tolls

<img class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f698.svg" alt="🚘" /> Car purchase & depreciation

<img class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f9f0.svg" alt="🧰" /> Vehicle tool kit

<img class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/2602.svg" alt="☂️" /> Car insurance & registration

<img class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f527.svg" alt="🔧" /> Car maintenance

If you discuss work at a restaurant ...

🍔 Business meals

If you leave town for work ...

<img class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f6eb.svg" alt="🛫" /> Transportation

<img class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f3e8.svg" alt="🏨" /> Travel lodging

<img class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f961.svg" alt="🥡" /> Meals while traveling

If you work from home ...

<img class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f6cb.svg" alt="🛋️" /> Home office furniture

<img class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f6e0.svg" alt="🛠️" /> Property repairs

<img class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f50c.svg" alt="🔌" /> Power bill

<img class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f32a.svg" alt="🌪️" /> Property insurance

<img class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f6b0.svg" alt="🚰" /> Water bill

<img class="emoji" role="img" draggable="false" src="https://s.w.org/images/core/emoji/14.0.0/svg/1f310.svg" alt="🌐" /> Wi-Fi bill

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Safety gear

Trade school tuition

Contract labor

Machinery & tools

Legal fees

Union dues

File federal & state taxes for
Free. Max refund guaranteed.

Contracted help

Phone, laptop, accessories

Conferences & retreats

Office supplies

Parking

Tolls

Car purchase & depreciation

Vehicle tool kit

Car insurance & registration

Car maintenance

Transportation

Travel lodging

Meals while traveling

Home office furniture

Property repairs

Power bill

Property insurance

Water bill

Wi-Fi bill