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Self employed
Your expenses can be expensed by the business, if used to start the the business. Generally, a business expense must be ordinary and necessary to qualify for a deduction. Some common deductions can include communication costs, office supplies, license or permits, mileage, advertising costs, professional fees, liability insurance, banking fees, and health care premiums.
Married Filing Joint (MFJ) is the best status because it has the most allowance for deductions. However, it all depends on your individual situation.
Our free Tax Caster tool can help you estimate taxes for next year. Please use the link https://turbotax.intuit.com/tax-tools/calculators/taxcaster/
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‎October 27, 2021
2:48 PM