Top Freelance Tax Deductions for 2024
- Home Office Expenses
- Business Supplies and Equipment
- Professional Services and Subscriptions
- Travel and Transportation Costs
- Health Insurance Premiums
Home Office Expenses
Freelancers can deduct a portion of their rent or mortgage, utilities, and internet costs if they use a dedicated space for their business.
Business Supplies and Equipment
Costs for office supplies, software, and equipment such as computers and printers are deductible for freelancers.
Professional Services and Subscriptions
Fees for professional services like legal or accounting services, as well as subscriptions to industry-related publications, can be deducted.
Travel and Transportation Costs
Freelancers can deduct mileage, parking, and tolls for business-related travel, as well as expenses for meals and accommodations while away on business.
Health Insurance Premiums
Self-employed individuals can deduct health insurance premiums, including dental and long-term care coverage, for themselves, their spouses, and dependents.