Travel and transportation is one of themost important tax write-offsfor real estate agents. Since most agents are constantly driving to and from listing appointments, showings, and open houses, it’s important to track and deduct transportation costs like mileage and fuel for your personal vehicle...
Can you write off a truck as a 1099? Yes, if you are a self-employed 1099 contractor truck driver (owner-operator), and your qualified non-personal-use semi-truck is in your business name and used for work, it’s fully deductible. This includes vehicle expenses, maintenance, and even i...
and these deductions reduce the amount of taxable income you have. For instance, if you make $80,000 teaching private lessons, and you have $15,000 in qualifying business expenses, your taxable income is now $65,000. Depending upon how many write-offs you are eligible to take, you could...