You may deduct the cost of travel to hair shows, product demonstrations and other business-related events. You may also claim cosmetologist write-offs for lodging and meals. The IRS extends a tax credit for business use of your car if you drive to such events. Keep track of all miles used...
Thehome office deductionallows you to write off expenses for using a part of your home exclusively for your freelance business. This can include a portion of your rent or mortgage, utilities, home or renters' insurance, and even home maintenance. ...
Repairs made on your home. Homeowners or renters insurance. Other Expenses You can deduct a whole host of other costs on your Schedule C, depending on what you paid for during the tax year.Common and often overlooked deductionsinclude: Hair shows, seminars, conferences, membership fees and cont...
2025 2025 tax write-offs taking time to learn about key tax credits and deductions can help you save hundreds of dollars or more each year. kimberly lankford jan. 21, 2025 what to know about tiktok if you rely on the platform for income and recognition, take action now to mitigate loss ...
Beyond the carbon tax hike, the government is promising $15 billion in new spending on climate initiatives over the next 10 years — money earmarked for improvements to the country's electric vehicle charging infrastructure, rebates and tax write-offs ...
If you create a successful business, paying taxes is inevitable. But it can be a lot less painful if you use the tax code to your advantage and maximize your business’s tax deductions. Bookmark this business expenses list and utilize as many tax write-offs as you can to save money for...
Related Write Offs If you have a home office that qualifies for a deduction, you can also write off a portion of expenses such as utilities, repairs, maintenance, pest control and security related to the office. For example, if your qualifying home office takes up 15 percent of your apartme...
Tax Write Offs for Self Employed Hair Stylists Image Credit:Ivanko_Brnjakovic/iStock/GettyImages As a self-employed hair stylist, you're responsible for reporting your income as business revenue on Schedule C of your 1040 tax return. You can write off costs you incur while running your busines...