Hi Aaron,
Your tax deductions will be your business expenses. Generally, a business expense must be ordinary and necessary to qualify for a deduction. Some common deductions can include communication costs, office supplies, licenses or permits, mileage, advertising costs, professional fees, liability insurance, banking fees, and health care premiums.
What self-employed expenses can I deduct?
Are professional dues deductible?
What types of meal and entertainment expenses are 100% deductible on a business return?
Can I take the home office deduction?
You may be eligible for the Qualified Business Income Deduction (QBID) if you are either self-employed, a sole proprietor, or an owner in an LLC, Partnership or S Corporation.
What is the Qualified Business Income (QBI) deduction?
One of the benefits is saving for retirement.
https://turbotax.intuit.com/tax-tips/retirement/boost-your-retirement-savings/L3lryQHVz
Hope you find this information helpful!
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