Hi,
You can estimate your income by projecting the jobs and clients you expect in 2023.
As a solopreneur, you can write off far more business expenses than employees even dream about, and you'll want to take advantage of every one of them. Learn about the deductions available to self-employed individuals to find out which ones you can benefit from.
The IRS defines deductible expenses as those that are ordinary and necessary for your business. A few common business deductions you won't want to miss include:
- Expenses related to the business use of your home, including:
- Certain amount of rent or mortgage interest
- Utilities
- Phone
- Internet service
- Business use of your vehicle based on business automobile expenses or the standard IRS allowable mileage rate for your tax year.
- Depreciation of some property and equipment you purchase.
Here is the IRS Pub 535 that has detail about Business Expenses you may incur with your business.
Hope you find this information helpful!
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