{"id":704,"date":"2015-12-06T12:58:59","date_gmt":"2015-12-06T17:58:59","guid":{"rendered":"http:\/\/www.etax.com\/blog\/?p=704"},"modified":"2015-11-19T12:59:37","modified_gmt":"2015-11-19T17:59:37","slug":"three-big-deduoyed-taxpayers","status":"publish","type":"post","link":"https:\/\/www.etax.com\/blog\/2015\/12\/06\/three-big-deduoyed-taxpayers\/","title":{"rendered":"Three Big Deductions for Self-Employed Taxpayers"},"content":{"rendered":"<p>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.<\/p>\n<p><strong><u>Business Expenses<\/u><\/strong><\/p>\n<p>Self-employed taxpayers can deduct certain business expenses that meet the following criteria:<\/p>\n<ul>\n<li>An accepted and usual expense related to doing business within your industry. These expenses can be a computer for journalists or writers, or even business dinners with clients in jobs where that is a common practice.<\/li>\n<li>Appropriate and improve efficiency in your line of work. While the expenses aren\u2019t required to be indispensable, they should make doing your job easier.<\/li>\n<\/ul>\n<p><strong><u>Health Insurance<\/u><\/strong><\/p>\n<p>Paying for your own health insurance can get expensive, but thankfully you can deduct the full amount on your Form 1040 as a personal expense. Health insurance costs are an above-the-line <a href=\"https:\/\/www.etax.com\/blog\/2026\/02\/19\/new-auto-loan-interest-deduction-how-to-save-up-to-10000-on-your-taxes-2025-2028\/\">deduction<\/a>, to be taken on line 29 of the Form 1040 for businesses who have profited in the tax year. If your business did not profit, health insurance expenses will be claimed as a below-the-line deduction, as a medical expense and you must itemize.<\/p>\n<p><strong><u>Home Office<\/u><\/strong><\/p>\n<p>Many self-employed individuals work from their home. In these cases, if a majority of the work is done from a home office, the cost may be deductible. You can calculate the deduction on Form 8829, however you can\u2019t claim a larger deduction than your net profit. If this occurs, you\u2019ll have to carry the extra over to the next tax year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[123],"tags":[345,215,178,150,177,117,36],"class_list":["post-704","post","type-post","status-publish","format-standard","hentry","category-deductions-2","tag-business","tag-business-expenses","tag-form-8829","tag-health-insurance","tag-home-office","tag-insurance","tag-self-employed"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Three Big Deductions for Self-Employed Taxpayers - eTax.com\u00ae Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.etax.com\/blog\/2015\/12\/06\/three-big-deduoyed-taxpayers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Three Big Deductions for Self-Employed Taxpayers - eTax.com\u00ae Blog\" \/>\n<meta property=\"og:description\" content=\"Taxpayers who run their own businesses, or freelancers should look for any way possible to save money at tax time. 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Business Expenses Self-employed taxpayers can deduct certain business expenses that meet the following criteria: An accepted and usual [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.etax.com\/blog\/2015\/12\/06\/three-big-deduoyed-taxpayers\/\" \/>\n<meta property=\"og:site_name\" content=\"eTax.com\u00ae Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/eTaxcom-135749976483724\/\" \/>\n<meta property=\"article:published_time\" content=\"2015-12-06T17:58:59+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/2015\\\/12\\\/06\\\/three-big-deduoyed-taxpayers\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/2015\\\/12\\\/06\\\/three-big-deduoyed-taxpayers\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/#\\\/schema\\\/person\\\/ddb9378caffbf2f32f89a84d213b3ef4\"},\"headline\":\"Three Big Deductions for Self-Employed Taxpayers\",\"datePublished\":\"2015-12-06T17:58:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/2015\\\/12\\\/06\\\/three-big-deduoyed-taxpayers\\\/\"},\"wordCount\":256,\"publisher\":{\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/#organization\"},\"keywords\":[\"Business\",\"business expenses\",\"Form 8829\",\"Health Insurance\",\"home office\",\"insurance\",\"self-employed\"],\"articleSection\":[\"Deductions\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/2015\\\/12\\\/06\\\/three-big-deduoyed-taxpayers\\\/\",\"url\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/2015\\\/12\\\/06\\\/three-big-deduoyed-taxpayers\\\/\",\"name\":\"Three Big Deductions for Self-Employed Taxpayers - 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