Introduction As a self-employed taxpayer, you are responsible for paying self-employment tax and reporting all business income. However, the IRS allows business deductions to help reduce Adjusted Gross Income...
Introduction The home office deduction allows self-employed individuals and business owners to deduct home- related expenses used for business purposes. However, many taxpayers either miss out on this deduction...
Introduction Freelancers and self-employed individuals often miss valuable tax deductions that could significantly reduce their taxable income. Unlike W-2 employees, freelancers must pay self-employment taxes and cover their own...