I am a freelancer living in NY. I bought a laptop this year for my freelance work as well as a bicycle for commuting. Can I deduct these two items come next April? I am not set up as a sole proprietor yet. Do I need to be in order to deduct these items?
thanks!
2007-09-18 03:19:37 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
The laptop maybe, if it's used just for your freelance work. The bicycle, no - commuting expense isn't deductible. Not sure what you mean by being set up as a sole proprietor - for tax purposes, you are. If you are talking about having a business license, then no you don't need that to deduct business expenses.
2007-09-18 03:38:00 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Your Computer and Internet connection may be Tax Deductible:
If you are an investor and use your computer for more than tracking a few stocks, the cost of your computer and internet connection (like AOL) can be tax deductible
Check the link below to know more about savings and tips on Tax, i found it quite useful when i started my freelance work.
2007-09-20 12:03:46 · answer #2 · answered by Brookes 2 · 0⤊ 0⤋