Tag Archives: business expenses

Are you required to wear certain clothes to work to maintain a specific appearance? If so, have you ever wondered if you can count the expensive clothing you buy to wear to work as a business expense? Many employees think that they can consider work attire to be the same as a uniform, and therefore […]

Freelancers, contractors or other consultants, even if they work part-time on the side, can often have a more complex tax situation than the standard employee. You are an independent contractor in the eyes of the IRS if you receive a Form 1099-MISC. This form documents your earning from a specific client, as opposed to a […]

Taxpayers who run their own businesses, or freelancers should look for any way possible to save money at tax time. There are three different deductions that can help put more hard earned cash back in your pockets. Business Expenses Self-employed taxpayers can deduct certain business expenses that meet the following criteria: An accepted and usual […]

Freelancing and Your Taxes: What to Expect

Life as a freelancer can be pretty laid-back. You set your own schedule, you control your own work, and you have a lot more freedom – most of the time. At tax time, being a freelancer can be daunting if you haven’t kept good records or don’t know what to expect. Filing your taxes can […]

Taxes and the Self-Employed

Whether you freelance, own your own business as a sole proprietor, or are an independent contractor, you are likely considered self-employed. Self-employment income has certain tax requirements that you need to be aware of when it’s time to file your federal income tax return. Be aware of the following six pieces of advice from the […]

Your Trade Can Lead to Big Deductions

No matter what type of skilled trade you work in, whether you are a computer service technician, a mechanic, a laborer, or any other job which requires a unique skill-set, you may be able to reduce the amount of taxes you owe each tax year by claiming certain deductions. If you work for a specific […]

Secure Your Job Related Deductions

As a security specialist, your job is to provide safety and asset protection. You may also work in corrections, ensuring the logistics of those incarcerated. At tax time, you don’t want to be lax on the deductions you can take. You’ll receive a Form W-2 from your employer which will document your income and tax […]

If your job or business requires you to use your own personal car, you may be able to deduct the entire operation costs up to certain limits. If the car is used for both business and personal use, however, you can only deduct costs relating to the business use. Generally, the amount of deduction is […]

Using Your Home for Business

Regardless of if you are self-employed or an employee of another business, if you use any part of your home for conducting business, you may be able to deduct certain expenses. Your home must be used in one of the following ways: Exclusively, and on a regular basis as your primary place of business A […]

Eligible educators can deduct up to $250 ($500 if married, joint filers are both educators) for any related expenses they incur which are not reimbursed by any party. Similar to trade or business expenses, qualifying educator expenses may include things like books, supplies, technology, equipment and supplemental material you may need within the class. If […]