If your income grows even more, you may want to learn
about business expense deductions.
Not exact matches
Since the IRS can be fairly generous
about claiming tax
deductions for
business expenses, it might seem logical that your costs for driving to and from work every day should be deductible.
For tax purposes, camps can deduct the cost of the tangible assets they purchase as
business expenses; however, camps must depreciate these assets in accordance with IRS rules
about how and when the
deduction may be taken.
We might think
about our
business expenses, or
deductions for things like moving and student loan interest if they apply.
But with self - employment tax, I can't find information
about how
business expenses interact with the 50 % self - employment
deduction.
Money Insights from QuickBooks Self - Employed organizes all of your
business accounts to show your income and
expenses in one streamlined place, so you're always in the know
about what you owe, and how much you're earning in
deductions.