Deductions
Deductions
As a freelancer, you can deduct the cost of business expenses from your gross earnings to lower your taxable income. Some standard deductions for freelancers include:
- Advertising materials
- Business meals
- Contract labor
- Education and certificates
- Equipment
- Hardware and software
- Health insurance
- Home office space
- Internet and phone bills
- Legal or professional services
- Licenses
- Office supplies
- Travel expenses
- Vehicle expenses