Self-Employed Tax Deductions: The Basics About 10 Essential Ones

RADICALFIRE.COM

Self-employed people like their independence and ability to work when and where they want. But it would be best if you got smart about self-employed tax deductions.

Important Self-Employed Tax Deductions

Home Office Deduction

If you use part of your house or condominium for business, you may qualify to claim the associated expenses as a deduction.

Training And Education Expenses

Professional development training and education expenses are deductible.

Health Insurance Premiums

The cost of health, dental, and qualified long-term care insurance premiums can be deducted if you are not eligible for another plan.

Cell Phone And Internet Expenses

Almost all people operating a business need phone and internet service. The bill for a dedicated business or cell phone service is fully deductible.

Office Supplies

These are mundane items required daily to operate your business, like pens, paper, postage, printer ink, post-it notes, notebooks, staples, paperclips, folders, etc.

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