Are you self-employed and wondering how to maximize your tax deductions for tax year 2024? Here’s a look at the best tax write-offs you don’t want to miss: 1. Qualified Business Income If you ...

For self-employed taxpayers, SEP IRA and SIMPLE (Savings Incentive Match Plan for Employees) IRA contributions are “above the line” tax deductions. See the other self-employed deductions below.

If you made a large purchase, such as a car or expensive appliances, this deduction could make a big difference in your tax bill. Health insurance premiums for the self-employed If you're self ...

the money you make is generally considered self-employment income. You’ll likely have to account for it when you file your taxes. On the plus side, you also may get the benefit of writing off ...

Part of the 2017 Tax Cuts and Jobs Act (TCJA), the QBI deduction allows eligible self-employed taxpayers and small business owners to deduct up to 20% of qualifying business income on their ...

Self-employed Uber and Lyft drivers can maximize tax deductions by tracking vehicle expenses, tolls, phone usage, and service ...

The best tax software for the self-employed should be affordable and user-friendly. It should also help you find any deductions that might reduce your tax bill and make sure you complete all ...

Understand what tax liability is, how it's calculated, and its impact on your finances. Learn about different types of tax ...

Doing taxes isn’t exactly easy, and “tax deduction” brings to mind piles of receipts and complicated calculations, just to save a few bucks. Here’s the good news: You don’t need to ...

You also can deduct real estate taxes and home mortgage interest. TaxSlayer Self-Employed is designed for 1099 filers, including those with W-2 income. For $59.95, it’s a more budget-friendly ...