![]() A home gym where you see personal training clients.A small work area in the corner of your bedroom.There has to be a space in your home that you use only for business. Self-employed people who WFH can take the home office deduction. And it lets you write off a chunk of your living expenses. It’s a powerful tax break exclusively for the self-employed. But for lots of freelancers, home is also where the work is.Įnter the home office deduction. Where to claim it: Schedule C, Line 30 and Form 8829 So keep track of your meter time while you’re out on the job! □ 3. Parking tickets don't count as a write-off. You can only claim your parking if you are the person footing the bill. If your client reimburses you, it isn’t a write-off. (Even if you tack a personal errand on after your work stop, you can still write off the full amount.) Can you write off parking fees if you get reimbursed? It’s pretty hard to park somewhere partially for work and partially not for work. There’s no need to deal with a business-use percentage. That’s because work-related parking fees are 100% tax-deductible. But this write-off really belongs in its own category. ![]() You might think of parking as a car-related expense. Where to claim it: Schedule C, Box 27a (“Other expenses”) Use it to lower: Your self-employment taxes That’s how the math works out to give you the biggest savings.
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