10 Self Employed Tax Deductions and Credits for 2020 and 2021 (tax benefits). If you are interested in self employed tax deductions, self employed tax credits, or some of the best tax write offs for 2020 AND are self employed OR a small business owner then this video is for you! If you are a W-2 employee with a 1099 side hustle then you too can take advantage of some of these tax write offs for your 1099 income.
In this video we discuss the 2020 Sick and Family Leave Credit, Minimal Rental Use, Vehicle Deductions (Section 179 & Standard Mileage Rate vs Actual Vehicle Expenses), 20% Self Employment Deduction (QBI), whether or not you should file as an S-Corp, Self Employed retirement account contributions, Business Meal Deductions, Rental Costs & Health Insurance Premium write offs, and your ability to write off your business communication devices and services.
Hope you enjoy the video and find a nugget or two of information to help you on your financial planning journey.
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