Working from home has its perks, and one of them could be a tax break — if you qualify. The home office tax deduction lets self-employed individuals, freelancers and small business owners write off ...

Form 8829 is used to claim the home office deduction by calculating the business-related portion of home expenses. Self-employed individuals and freelancers can deduct costs such as rent, utilities ...

Learn about IRS Publication 535, crucial for business owners to understand deductible expenses to reduce taxable income.

Question: I just started a consulting business using a room in my house. I am operating as a sole proprietorship. Accordingly, I will be filing Form 1040 with a Schedule C to report my business income ...

Working for yourself can have a lot of benefits, but taxes are generally not one of them. When self-employed, you are typically left picking up the tab on some of the costs your employer otherwise ...

Knowing which expenses your LLC can deduct is fundamental to maintaining healthy business finances. Every legitimate business expense you properly document and deduct reduces your taxable income, ...

Unlike a full-time employee whose taxes are deducted from their paycheck, if you're an independent contractor, it's your job to pay taxes on your own—and you'll want as many 1099 tax deductions as you ...