| Being in business for your self is a very liberating | | | | Some of these self employed tax deductions include |
| experience and can provide you many advantages | | | | the rent you pay for a home office, a phone or fax line |
| over someone who is employed. One of the benefits | | | | that you've set up for business purposes, Internet, |
| you have is claiming deductions when filing your taxes. | | | | business-related entertainment and travel costs you |
| Running a business can incur a lot of expenses and | | | | may incur for work. You can also claim capital gains |
| the government recognizes this. As a result, you will | | | | and any dividends you may receive. Even if there is a |
| find that you have a wide option of self employed tax | | | | trade publication that you have a subscription to, you |
| deductions that you can qualify for. If you are unsure | | | | will be able to include this in your deductions. If you're |
| of what you are able to deduct, the following are | | | | ever unsure if something can be considered a |
| examples of some of the many deductions you can | | | | deduction, save the invoice or receipt and check with |
| file that will save you money during tax time. | | | | your accountant. |
| The first of the self employed tax deductions that you | | | | When claiming self employed tax deductions, you are |
| can claim are the payments you make to cover your | | | | in the drivers seat. By consulting a tax professional you |
| health and dental insurance. If you pay the premiums | | | | will find that there are many more deductions you can |
| for a spouse or other dependents in your family then | | | | take advantage of that will save you big time when it's |
| you can claim these as well. Educational costs relating | | | | time to do your taxes. Whatever you claim, however |
| to your business can also be deducted. If you use your | | | | will have to be backed up with proof. Be sure to keep |
| car for work you might be able to deduct a portion of | | | | all your receipts and document everything. The more |
| the mileage and if something happens to your car, | | | | thorough you are in your documentation, the less likely |
| repairs are something you can claim. Other deductions | | | | you will be audited. And if on the off chance you do |
| you should claim are any retirement and pension plans | | | | get audited, by keeping and detailed and accurate |
| you contribute to. | | | | records, you will surely survive the process with few |
| If an expense is related to the functioning of your | | | | problems. |
| business, chances are you can claim it as a deduction. | | | | |