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Understanding Automobile and Home Office Deductions - A Guide for Self Employed Freelancers
Taxpayers in the United States are allowed to itemize certain deductions from a specific list of allowable items from the IRS, and thus subtract those itemized deductions from their Adjusted Gross Income (AGI) amount to arrive at an appropriate taxable income amount. Deductions are a very important matter for the business owner as well as those individuals that have freelance businesses. The most popular deductions for freelance businesses are the automobile and home office deductions.
The freelance business owner’s best reference will be their tax preparer and/or the Internal Revenue Service (IRS) itself. The following link list will examine the automobile and home office deductions through articles and other resources to allow the freelance business owner to gain a better understanding of these deductions during tax time.
Home Office Tax Tip from BankRate.com
This link breaks down the basic information and requirements to use the Home Office deduction.
The following link provides IRS information on the automobile deduction, and offers other links to related information at the bottom of the webpage.
Home Office Article from AOL Money
This article from AOL Money examines in-depth the Home Office deduction.
This pdf link offers details on automobile related information as well as efficient record-keeping for freelance business owners.
Car Use Information from the IRS
This link covers the use of a car for business purposes from the IRS website, and includes other related topic links as well as worksheets and schedules to use during tax preparation.
Home Office Deduction for Small Businesses
This link focuses on the Home Office deduction from the standpoint of a small business.
Auto Deduction From TaxGaga.com
This article provides another good basic understanding of the automobile deduction.
Home Office Deduction Tip from the IRS
This IRS tip link covers the Home Office deduction, and includes other related topic links as well as worksheets and schedules to use during tax preparation.
This link reviews the major tax preparation software and companies out there for individuals and freelance business owners.
This pdf link examines in-depth those deductions available to business owners.
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