Can a self employed Individual claim health insurance deduction from taxable income? The answer is definitely yes. Anyone who has self-employment income can claim health insurance deduction, not only for the premium paid for himself but for also for the spouse, and… Read More »Self Employed Health Insurance Deduction Simplified !
self employment tax deductions
The Tax Cuts & Jobs Act has brought a new provision in the Internal Revenue Code to provide 20% tax deduction for all self-employed or freelancers or estate or trust from a partnership, S corporation or sole proprietorship or s corporation or who have qualified business income. This is in addition to 25 self-employment tax deductions already available to freelancers.Read More »New 20% Tax Deductions for Qualified Business Income ?
Here is list of self employment deductions- 25 deductible expense , that must be taken into account while computing profit of business