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Self employed tax deductions for you to use when filing your federal tax return. My new business partner wanted to know what he needed to keep track of for his new venture into self employment this year. I ran through the list of self employed business deductions I have used in the past to get him started.
While I was working on the list, it occurred to me that many of you could also benefit from this information. This list is not a complete list, but rather the deductions that I routinely use. Most of the deductions are taken on Schedule C unless otherwise noted.
You can use TurboTax to enter your tax deductions yourself or you can provide the amounts to your tax accountant.
To claim your tax deductions, file your tax return by the tax deadline.