Post by @keepertax

Some of the bills draining your bank account every month could also be lowering your tax bill 👀⁠ ⁠ If you’re self-employed, freelance, an independent contractor, or run a business, you may be able to deduct all or part of expenses you’re already paying for like:⁠ ⁠ 🏠 Rent⁠ 💡 Electricity + utilities⁠ 📶 Home internet⁠ 📱 Your phone plan⁠ 🚗 Car insurance⁠ 🏥 Health insurance⁠ 💻 Work software + subscriptions⁠ ⁠ But there’s a catch: paying the bill does not automatically make it a tax write-off. How you use it matters.⁠ ⁠ For example:⁠ 1. Your rent and utilities can count if you have a qualifying home office. Generally, that means a space you use regularly and exclusively for your business. Think a dedicated office or workspace, not your kitchen table or couch. If you use the actual-expense method, a portion of eligible rent and utilities can be deducted based on your business use of the home.⁠ ⁠ 2. Your internet and phone bill may have a deductible business-use portion if you use them for your self-employed work.⁠ ⁠ 3. Car insurance can be part of your vehicle deduction if you use the actual-expense method. If you use the standard mileage rate, you generally don’t deduct insurance separately.⁠ ⁠ 4. Self-employed health insurance has its own eligibility rules and is generally a separate deduction, not a regular business expense.⁠ ⁠ 5. And tools like Canva, Adobe, ChatGPT, Google Workspace, LinkedIn Premium, and other software can count when they’re ordinary and necessary for your business.⁠ ⁠ So if you’ve ever Googled “what can I write off as a self-employed perspn?” start with the bills you’re already paying!⁠ ⁠ Keeper scans your linked accounts for potential business write-offs based on the work you do, so you don’t have to comb through every transaction yourself.⁠ ⁠ 🔗 Hit the link in bio to see what you might be missing.⁠ ⁠ Educational only. Not personalized tax advice.⁠ ⁠ #TaxWriteOffs #SelfEmployedTaxes #1099Taxes #BusinessExpenses #KeeperTax