What Are Some Common Tax Deductions for the Self-Employed?

Answer

When calculating your taxable income from your business, you are allowed by the IRS to write off the costs that you incur while running your business. These costs can including advertising, insurance for your business, transportation expenses and
source: www.ehow.com
1 Additional Answer
Ask.com Answer for: Common Self Employed Tax Deductions
Tax Deductions and Credits
Tax credits directly cut taxes while deductions and exemptions reduce taxable income. Income adjustments are additional deductions that do not require itemizing.
Q&A Related to "What Are Some Common Tax Deductions for the..."
Self-employment tax is when a person is working for themselves and a tax is imposed on the self-employed individual. Everyone must pay taxes.
http://answers.ask.com/Business/Finance/what_is_se...
When you're an employee, you and your employer split the cost of your social security and Medicare contributions. When you're working for yourself, you are solely responsible for
http://www.life123.com/career-money/taxes/self-emp...
Any deductions that you are required to take as personal deductions would be subject to SE tax. As a sole proprietor, for example, you must report charitable contributions that you
http://www.quora.com/What-deductions-from-self-emp...
Explore this Topic
Health insurance is tax deductible. You may deduct 100 percent of the cost of your health insurance if you are self employed along with that of a spouse. You ...
Rent is not tax deductible. If you are self employed or work from home then you can claim a portion of your rent as your home office expense. ...
If one is self employed in the UK, s/he can claim several tax reliefs, allowances and deductions. The following link gives more details. ...
About -  Privacy -  AskEraser  -  Careers -  Ask Blog -  Mobile -  Help -  Feedback © 2014 Ask.com