What is tax deductable for freelancers?
I am a software engineer and occassionally take on side projects, what kind of expenses can I deduct? Can I deduct things like my computer, software and even travel??
If you look at a schedule C, you can see what categories of deductions you can take. If you claim the income, you can take some of those deductions, but unless the item, such as your computer, is used 100%, you can only take a percentage.
It would be best to talk about the specifics in a conversation, so give a call to either me or your local tax pro and we can better answer your questions.