What are the tax benefits of owning your own business?

Tax benefits compared to what exactly? If you own your own business and it loses a lot of money, sure, it doesn't pay on the money it loses. But it lost your money. Just like there is a tax benefit to making a chritable donation...but it will never be as much as the donation. Yes, in your own business you may have the ability to tax expense sme things that you may get some personal use of, but it is minor overall (if it was major, than in fact the use would become taxable income). But again, it comes back to compared to what.