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Get your taxes done using TurboTax
For self-employed individuals, it is often helpful to save receipts from every purchase you make that is related to your business and to keep track of all of your utility bills, rent, and mortgage information for consideration at tax time. In my opinion, creating a spreadsheet is not sufficient in itself without receipts to verify.
When you are self-employed, many of the expenses you pay for materials, supplies, marketing, office expenses, insurance, and travel can be deducted when you file your income taxes. Certain utilities and expenses for operating a business from your home may also qualify.
ā€ˇFebruary 8, 2021
5:40 PM