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Self employed
What are tax write offs for self employed and are receipts the only acceptable form of proof for example gas, supplies that were bought?
Donna F 77Answer
Alumni - Intuit
October 26, 2022
There are numerous expenses that self employed taxpayers can claim on their tax returns. Some of these include supplies, office, postage, advertising, legal & professional, rent, and auto. Here's a link that breaks down expenses by different types of self employment:
Another good reference is the IRS Small Business website. Here is the link for it:
https://www.irs.gov/businesses/small-businesses-self-employed
Receipts are generally required for record-keeping purposes. If audited, you may need to produce the receipts and/or business bank statements showing the activity of the business.
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