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And if you’re self-employed, you can open a Solo 401(k) plan and deduct up to $69,000 in contributions (or $76,500 if age 50 or older). ... self-employment tax deduction, travel expenses ...
If you drive for a ride-share like Uber or Lyft, you can claim car costs when filing as a self-employed taxpayer. Steber said there are a variety of tax deductions taxpayers can claim related to ...
Before you claim the deduction, make sure you’re eligible. You can deduct car loan interest if you are a business owner or self-employed and use your car for business purposes. 2. Gather ...
The TurboTax Deluxe edition includes everything the Free Edition does, plus mortgage and property tax deductions, charitable donations, student loan interest, education expenses and 1099-MISC ...
An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
The free version of TaxAct is suitable for filers with W-2, unemployment or retirement income, and you can use it to claim deductions or credits for dependents and college expenses. You can also ...
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