- Home Office Expenses
- Business Supplies and Equipment
- Travel and Transportation Costs
- Professional Development and Training
- Health Insurance Premiums
- Marketing and Advertising Expenses
- Meals and Entertainment
- Retirement Contributions
- Software and Subscriptions
- Legal and Professional Services
Home Office Expenses
Freelancers can deduct a portion of their rent or mortgage, utilities, and internet costs if they use a dedicated space for work.
Business Supplies and Equipment
Costs for office supplies, software, and equipment such as computers and printers are deductible for freelancers.
Travel and Transportation Costs
Freelancers can deduct expenses related to business travel, including airfare, lodging, and rental cars, as well as mileage for local travel.
Professional Development and Training
Costs for workshops, courses, and professional memberships that enhance a freelancer's skills are tax-deductible.
Health Insurance Premiums
Freelancers can deduct health insurance premiums paid for themselves, their spouses, and dependents.
Marketing and Advertising Expenses
Costs for promoting a freelance business, such as website development, advertising, and business cards, are tax-deductible.
Meals and Entertainment
Freelancers can deduct a portion of their meals and entertainment expenses incurred for business purposes.
Retirement Contributions
Contributions to retirement accounts, such as IRAs or solo 401(k) plans, are tax-deductible for freelancers.
Software and Subscriptions
Costs for business-related software and subscriptions, such as accounting software or industry publications, are deductible for freelancers.
Legal and Professional Services
Fees paid to lawyers, accountants, and other professional services utilized for business purposes are tax-deductible for freelancers.