Top Self-Employed Tax Deductions 

tax deductions

 

As tax season approaches, MBO Partners shares its recommendations for tax deductions.

Here are ten tax deductions to consider for your independent business.

1. Retirement

One of the best tax advantages for the self-employed are retirement plans. Tax deductible qualified plans include:

2. Phone and Internet

Deduct phone, Internet, and fax expenses directly related to your business. For example, if your cellphone is for both business and personal use, you are only eligible to deduct the percentage of your bill that relates to business usage.

3. Education

Anything you do to enhance your job-related skills or round out knowledge related to your business can be deducted. This may include an online class, certification course, seminar, books, or subscriptions to professional publications. Be sure to save receipts of all purchases, including e-receipts.

Read the rest of the story at Top Self-Employed Tax Deductions | MBO Partners

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