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Post by hmonower999 on Mar 12, 2024 1:19:39 GMT -6
Home Energy Credits You could be eligible for a tax credit of up to if you made qualified energyefficient improvements to your home. If you installed new energyefficient doors or windows or a new electric gas heat pump you could get a credit on your tax return. HSA Contributions With a health savings account HSA the money you put aside for future medical expenses is taxdeductible. To qualify you must be covered by a highdeductible health plan HDHP not enrolled in Medicare or claimed as a dependent on someone elses return. You can contribute up to with selfonly HDHP coverage and with family HDHP coverage. Even if you dont itemize you can deduct the contributions you make with pretax dollars. selfemployed you can write off your business expenses. Possible tax deductions include business travel mileage business insurance Belarus WhatsApp Number premiums office supplies and home office expenses. You pay less tax by reducing selfemployment income with taxdeductible business expenses. Health Insurance You may be able to deduct a portion of your health insurance premiums if you are selfemployed. If you are covered by a highdeductible health plan HDHP and dont have access to coverage through an employer or spouse you could deduct a portion of the medical and dental insurance premiums if your business shows a net profit. SelfEmployed Tax Deduction If you freelance or have a side gig you must pay a . selfemployment tax based on your net income. You can take a deduction of these selfemployment taxes on your personal return.
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