Unsure about what actually counts when it comes to self-employment tax deductions?
Recognizing potential tax deductions will help you save money as a self-employed biz owner. This is one of the many ways I save my clients THOUSANDS of dollars each year! 🎉🥳🥂
Here’s a quick list of possible self-employment deductions:
Half of Your Self-Employment Tax
Use of Your Home Office
Rent and Mortgage Interest
Utilities, Internet and Phone Costs
Repairs and Maintenance
Self-Employed Health Insurance Premiums
Employee Wages and Benefits and Payments to Contractors
Taxes and Fees
Advertising, Promotion, Dues, and Subscriptions
Transportation and Auto Expenses
Business Photography Expenses
Qualified Business Income Deduction
Are you taking advantage of all of the deductions you can? Hint: just because you have a CPA does not mean they’re helping you save on taxes!