AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
Monza drag cars12/28/2023 For example, if you're a qualifying performing artist, you may be able to deduct the cost of costumes or other theatrical clothing that you can't wear everyday. If you have to buy clothes that you only wear for work, some individuals may be able to write off the cost. The self-employed and business owners, however, are still eligible for this deduction. In the past, mileage accrued while driving your own car for business travel was an expense you could claim on your taxes - but the Tax Cuts and Jobs Act of 2017 eliminated that for employees. If a passport is required for your travel, you can claim that as well. Flights, hotel rooms, rental cars, meals and tips for service are all considered travel expenses, if they're business-related. If you have to commute between multiple locations or travel for work, however, some of those costs may be deductible. If you're self-employed or own your own business, regular commutes from your home to work are considered non-deductible personal expenses. This would be an alternative to calculating the various individual home expenses. Greene-Lewis says that if you take the simplified option, you can deduct $5 per square foot, up to 300 square feet, or $1,500 total. For instance, if your home is 1,800 square feet total, and your home office measures 300 square feet, your home office deductions could be applied at a rate of 16%. To find the percentage, compare the size of space you use for business to that of your entire home, and then apply the percentage to the specific expenses.
0 Comments
Read More
Leave a Reply. |