- Home Office Expenses
- Business Supplies and Equipment
- Professional Development and Training
- 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 work.
Business Supplies and Equipment
Costs for supplies, software, and equipment used for work purposes are deductible, including computers, printers, and office furniture.
Professional Development and Training
Expenses related to improving skills and knowledge, such as workshops, courses, and professional memberships, can be deducted.
Travel and Transportation Costs
Freelancers can deduct travel expenses for business-related trips, including mileage, parking, and public transportation fares.
Health Insurance Premiums
Self-employed individuals can deduct health insurance premiums paid for themselves, their spouses, and dependents, reducing their taxable income.