April 15 is right around the corner and, in the last-minute scramble to file taxes, many of us forget to maximize our deduction power. If you're a last-minute scrambler, don't worry. Reading this column is your first step in making sure you leave no deduction unclaimed. Here are 10 commonly missed business deductions:

1. Advertising and promotion costs. Each year, I spend millions of dollars advertising for my businesses. Whether it's TV, internet, radio or print, you better believe I deduct every dollar as a business expense. All you need to do is ensure that the advertisement is directly related to your business, and document the expense (through saving receipts, etc.). So, whatever your business, if you spend money to maintain your business's website, print business cards, run a Yellow Pages ad or use any other advertising methods, deduct the cost.
    
2. License and registration fees. Each year, business owners pay out a lot of cash for licenses and registration fees just to stay in business. Many don't realize that these expenses are deductible. For example, if you paid your state or local government for licenses (such as a cosmetologist's license or physical therapist's license) and any business operational licenses (such as hazardous waste hauling or a liquor license), you can deduct those costs. Just make sure you keep all the documents, canceled checks and receipts.
    
3. Net operating loss carryback. Good news! If your business lost money last year, the NOL carryback deduction is your consolation prize. In an effort to throw a lifeline to small businesses in this economic climate, the IRS has extended the carryback rule to five years. To qualify, your business must have received $15 million or less in gross receipts over the previous three years. So, if your business made money in 2006 but suffered a loss in 2009, you can now carry back your losses through 2006. As you might guess, claiming this deduction is complicated. It involves numerous calculations from both the carryback year and the current tax year in order to determine the amount. So you might want to secure a competent tax preparer to help you through the process.
    
4. Subscriptions. I'm always looking for ways to improve and expand my businesses. I do this by reading as many journals, books and magazines related to my industry as possible. These expenses, too, are deductible. If you're like me and like to stay up to date in your business area, make sure the subscription is to a periodical (e.g., newspaper, magazine, newsletter, trade journal) that relates to your field. Keep accurate records of the cost, and then you can deduct it. So, continue to read up on ways to improve your business while resting easy knowing the government is practically paying you to do so.
    
5. Legal and professional fees. Let's face it; your business needs professional representation. Isn't it great to know that these expenses are deductible? Whether you hired a tax preparer to file last year's tax return, a bookkeeper to organize your financial records or an attorney to advise you in business dealings, you can deduct this expense. The only hurdle you will have to overcome is making sure the services were performed for your business, and that you maintained detailed records and receipts.
    
6. Education expenses. We all know continued education and training in any field are important. Good thing the IRS knows this, too, and allows taxpayers to deduct the cost of education. This includes education and training for yourself and your business's employees. You just have to show that the training maintains or improves the skills required for your business--or that it is required by law to keep you or your business licensed legally. For example, if you are a self-employed Realtor and you attend a conference on the current housing market, you can deduct the cost of the conference and any required materials.
    
7. Internet-related expenses. Take advantage of all the internet has to offer your business--including permissible deductions. Expenses such as domain registration fees, webmaster consulting costs, monthly hosting fees and annual domain costs are deductible. So, whether you're in business as a freelance writer or pet store owner, if you use the internet as your virtual storefront, keep copies of all your invoices and deduct the cost.
    
8. Wining and dining clients. I love to eat. And so do my clients and customers. If I pick up the tab for entertaining clients and investors, I can deduct 50 percent of the cost, as long as the meeting and entertainment are related to my business. This deduction can save you a ton of money.
   
   But to get every dime possible without getting into trouble with the IRS, keep detailed receipts. For example, jot down the name of the person you had lunch with and the reason for your lunch date directly on the lunch receipt.
    
9. Credit card convenience fees. It is great to be able to offer clients the convenience of paying by credit card. The major bummer is that we often get stuck paying the convenience fee for offering this method of payment. However, if you keep accurate records and receipts, you will be able to turn the bummer into a deduction for the fee.
    
10. Charitable contributions. I love this deduction! I encourage everyone to find a charity he or she is passionate about and give generously. As long as you can document your contributions with receipts showing the charity name, date, description and value, you can deduct the amount you give. Always make sure the charity you are contributing to qualifies with the IRS as a charity by searching IRS Publication 78.

Don't miss out on these money-saving deductions in your rush to file. And remember that finding qualified help with your taxes is simple to do and will save you money. To get the most out of these deductions, talk to a competent tax professional.