Top Freelance Tax Deductions in 2024
- Home Office Expenses
- Business Supplies and Equipment
- Professional Development and Training
- Health Insurance Premiums
- Travel and Transportation Costs
Home Office Expenses
As a freelancer, you can deduct expenses related to your home office, such as rent, utilities, and internet bills, based on the percentage of your home used for business purposes.
Business Supplies and Equipment
You can deduct the cost of supplies and equipment necessary for your freelance work, such as computers, software, and office furniture.
Professional Development and Training
Expenses for courses, workshops, and certifications that enhance your skills and knowledge in your freelance field are deductible.
Health Insurance Premiums
Freelancers can deduct the cost of health insurance premiums, including those for themselves, their spouses, and dependents.
Travel and Transportation Costs
If you travel for business purposes, such as meeting clients or attending conferences, you can deduct expenses like airfare, lodging, and mileage.