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5 Tax Deductions Side Hustlers and Gig Workers Always Miss

With this year's tax filing deadline quickly approaching, it's important for self-employed individuals to get a clear sense of what they may owe and how they can minimize their tax bills. Even if
The article from MSN Money discusses five tax deductions that side hustlers and gig workers often overlook. These include home office expenses, where a portion of rent, utilities, and internet can be deducted if a specific area of the home is used exclusively for business; vehicle expenses, which can be claimed either through the standard mileage rate or actual expenses like gas and maintenance; health insurance premiums, which can be fully deductible for self-employed individuals; business supplies and equipment, covering everything from office supplies to computers and software; and travel expenses, which include costs for business-related travel such as airfare, lodging, and meals. The article emphasizes the importance of keeping meticulous records to substantiate these deductions and advises consulting with a tax professional to ensure all eligible deductions are claimed correctly.

Read the Full GOBankingRates Article at:
[ https://www.msn.com/en-us/money/economy/5-tax-deductions-side-hustlers-and-gig-workers-always-miss/ar-AA1BU9tc ]