- Home Office Expenses
- Business Supplies and Equipment
- Professional Development and Training
- Health Insurance Premiums
- Travel and Transportation Costs
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 work.
Business Supplies and Equipment
Purchases of necessary supplies, such as paper, ink, and software, can be deducted. Additionally, equipment like computers and printers may also be eligible for deductions.
Professional Development and Training
Costs associated with improving skills and knowledge related to the freelancer's work, such as workshops, courses, and books, can be deducted.
Health Insurance Premiums
Freelancers who are not eligible for employer-sponsored health insurance can deduct their health insurance premiums, including dental and long-term care insurance.
Travel and Transportation Costs
Travel expenses for business purposes, such as mileage, parking, and tolls, can be deducted. Additionally, costs for public transportation or rental cars may also be eligible for deductions.