What deductions can freelancers claim on their taxes?
An example of an AI chatbot conversation about tax deductions for freelancers.
What deductions can freelancers claim on their taxes?
Freelancers can claim various deductions, including home office expenses, equipment costs, and travel expenses.
Can I deduct my internet and phone bills?
Yes, you can deduct a portion of your internet and phone bills if they are used for business purposes.
What about meals and entertainment expenses?
You can deduct 50% of meals and entertainment expenses directly related to your business.
Are there any specific forms I need to fill out?
Yes, freelancers typically use Schedule C (Form 1040) to report income and expenses.
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