Freelancers—or independent contractors, as the IRS refers to them—face unique challenges in an attempt to earn a living. They need to bring in clients, pay their own health insurance, and even fork over the full Social Security tax, of which their W-2 counterparts typically pay only half.
Despite these obstacles, freelance writers, editors, photographers, bloggers, PR professionals, and other individual contractors can earn a nice tax refund if they know where to look.
Here’s where to start:
Often an obvious deduction, the purchase of tangible goods can also be easy to overlook. Some examples of items that you may be able to report: office furniture, books, computer, postage, printer ink, and other office supplies.
Subscriptions and fees
Similar to purchases, you’re able to deduct fees that directly apply to your business. Examples include professional organization memberships, bank or PayPal fees, copyright fees, business registration fees, domain name registration fees, magazine subscriptions, and your Internet bill.
Any fees related to advice from professionals, such as lawyers and accountants, are generally deductable as well.
Promotional and lead-generation