• Claiming all available deductions could require additional paperwork.tax time image by Tom Oliveira from Fotolia.com
  
  A Limited Liability Company, or LLC, is a commonly used business structure in the United States. LLCs are popular because they protect the personal assets of the owners and company officers from being tied in with the activities of the business. In other words, the owners and officers have a limited amount of personal liability. LLCs also offer more favorable tax conditions than what is received with other types of business structures. Taking full advantage of the available tax deductions can result in significant savings.
  
  

Charitable Donations

• Any contributions made to a 501(3)c non-profit organization or a recognized charitable institution can be deducted from the company's taxes. These donations can be used to offset as much as 10 percent of the company’s total taxable income. Any surplus amounts can be rolled over to future tax returns for up to five years from the deduction.
  
  

Health Insurance

• If the owner of a taxable LLC is also an employee, commonly referred to as an employee-owner, then health insurance premiums for him, his spouse and their dependents, can all be used as an LLC tax deduction. This is a significant advantage because he would not be able to make the same deduction on his personal taxes, unless the amount of the medical coverage was less than 7.5 percent of his total salary.
  
  

Business Automobiles

• Many jobs require executives or sales staff to travel by car as a routine part of their job. Numerous expenses are associated with this, all of which can be deducted from the taxes of the LLC. If the employee uses her own car, the company may give her a reimbursement based on the number of miles driven, then deduct this reimbursement from the company's taxes. The maximum rate of mileage reimbursement is governed by the Internal Revenue Service and is adjusted each year. The current rate will be disclosed in the instructions for the tax forms. It also can be obtained by calling the IRS.
  
  Alternatively, a company may choose to buy or lease an automobile as a company vehicle. These automobiles are used only for business purposes and are not used privately or for personal transportation. The lease amount can be deducted as a business expense.