- Home office expenses
- Business-related travel
- Health insurance premiums
- Retirement contributions
- Professional development and education
- Software and technology expenses
- Marketing and advertising costs
- Office supplies and equipment
- Client entertainment and meals
- Legal and professional fees
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-Related Travel
Travel expenses for client meetings, conferences, or other work-related trips can be deducted, including airfare, lodging, and meals.
Health Insurance Premiums
Self-employed individuals can deduct the cost of health insurance premiums for themselves, their spouses, and dependents.
Retirement Contributions
Contributions to a retirement account, such as a SEP-IRA or Solo 401(k), are tax-deductible for freelancers.
Professional Development and Education
Costs related to improving skills or staying current in the industry, such as workshops, courses, and books, can be deducted.
Software and Technology Expenses
Freelancers can deduct the cost of software, apps, and other technology tools used for work purposes.
Marketing and Advertising Costs
Expenses for promoting the freelance business, such as website maintenance, advertising, and business cards, are deductible.
Office Supplies and Equipment
Costs for items like paper, ink, and office furniture can be deducted as business expenses.
Client Entertainment and Meals
Meals and entertainment expenses related to client meetings or business discussions can be partially deducted.
Legal and Professional Fees
Legal and accounting fees incurred for business purposes are tax-deductible for freelancers.