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Tax Deductions You May Be Eligible for as a Freelancer

Monday, November 27, 2023

Primary Blog/OnPoint Tax Relief/Tax Deductions You May Be Eligible for as a Freelancer

Hello, I'm Tracie Lowe, CPA, from OnPoint Tax Relief. Tax season can be overwhelming, especially for freelancers facing significant tax bills. If you find yourself stressed about your tax liability, relax—we're here to help. Our firm specializes in tax resolution, assisting those who owe the IRS or state $10,000 or more. We've supported numerous small business owners and freelancers, guiding them through complex tax situations and helping them settle their tax debts. Contact our firm today to explore your tax debt settlement options.

Now, let's talk about tax deductions. As a freelancer, you have access to various legitimate deductions that can significantly reduce your tax liability. Consider speaking to a tax professional to determine which deductions apply to your situation.

1. **Home Office:** Deduct a portion of your rent or home expenses if you have a dedicated home office space. Save receipts for office supplies, technology, internet, and furniture used for work purposes.

2. **Insurance Premiums:** Deduct health insurance costs or any insurance required for your job, including liability or malpractice insurance.

3. **Travel Costs:** Deduct work-related travel expenses such as hotel costs, mileage, and work-related meals. Ensure personal vacation expenses are not included.

4. **Advertisement Expenses:** Deduct money spent on advertising your business, whether through online ads or influencer marketing for sponsored posts.

5. **Car Expenses:** Deduct expenses related to your business car, including auto insurance, gas, and maintenance. Calculate deductions based on the percentage of time the car is used for work.

6. **Occupational Licenses:** Deduct the cost of renewing licenses required for your freelancing job as a business expense.

While these deductions are enticing, filing them incorrectly could lead to audits or IRS disallowance, resulting in penalties and interest on your tax debt. For expert guidance in navigating the IRS maze, reach out to our firm. We offer a no-obligation confidential consultation to explore permanent solutions for your tax problems.

**Contact Us Today:**

Visit []( or call us at [Insert Your Phone Number] to schedule your free consultation. Let us help you resolve your tax challenges and achieve financial peace of mind. #TaxDeductions #FreelancerTaxes #IRSRelief #TaxResolutionExperts #TaxDebtHelp #FinancialPeace

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