- Home office expenses
- Business-related travel costs
- Health insurance premiums
- Retirement contributions
- Professional development and education expenses
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 Costs
Freelancers can deduct mileage, parking fees, tolls, and other travel expenses incurred for business purposes.
Health Insurance Premiums
Self-employed individuals can deduct health insurance premiums, including dental and long-term care coverage.
Retirement Contributions
Freelancers can save for retirement and reduce their tax burden by contributing to a SEP IRA, Solo 401(k), or other retirement plans.
Professional Development and Education Expenses
Freelancers can deduct the costs of workshops, courses, books, and other resources that enhance their skills and knowledge in their field.