What expenses can I deduct using tax software?
An example of an AI chatbot conversation about tax software expenses.
What expenses can I deduct using tax software?
You can typically deduct expenses like home office costs, software subscriptions, and professional fees.
Are there specific limits on how much I can deduct?
Yes, some expenses have specific limits. For example, home office deductions are based on the square footage used.
What about mileage for business travel?
You can deduct mileage at the standard rate set by the IRS, which changes annually. Keep accurate records!
Do I need receipts for all my deductions?
It's best to keep receipts for all deductions, especially for larger expenses, to support your claims if audited.
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