- Home office expenses
- Business-related travel expenses
- Health insurance premiums
- Retirement contributions
- Professional development and education expenses
Home Office Expenses
Freelancers can deduct a portion of their rent or mortgage, utilities, internet, and phone bills if they use a dedicated space for their work.
Business-Related Travel Expenses
Freelancers can deduct mileage, parking fees, tolls, and other travel expenses related to business activities.
Health Insurance Premiums
Freelancers who are not eligible for employer-sponsored health insurance can deduct their health insurance premiums.
Retirement Contributions
Freelancers can deduct contributions to retirement accounts such as a SEP-IRA or Solo 401(k).
Professional Development and Education Expenses
Freelancers can deduct expenses related to improving their skills or staying current in their field, such as workshops, courses, and professional memberships.