01/15/2025
Wealth Wisdom Wednesday💰💰
💡 Side Hustlers: Don’t Miss Self-Employment Deductions
If you’re working a side gig, you can deduct business expenses like:
📌 Internet and phone bills
📌 Office supplies
📌 Marketing costs
📌 Home office space
Keep detailed records to maximize these deductions!
💡 File Early to Avoid Delays
Filing early means:
✅ Faster refunds
✅ Protection from identity theft
✅ More time to review your taxes for accuracy
💡 Charity Pays Off
If you donated cash, goods, or even volunteered for a qualified charity, you could qualify for a deduction. Be sure to get proper documentation to claim these!
💡 Track State and Local Tax (SALT) Deductions
You can deduct up to $10,000 in property taxes, plus state and local income or sales taxes. Don’t overlook this!