Deductions
20 articles tagged “Deductions”.
New $10,000 Car Loan Interest Deduction: Does It Help Freelancers Financing a Vehicle?
For nearly 40 years, personal car loan interest has been completely off-limits as a federal tax deduction.
IRS Mileage Rate Jumps to 76¢ Mid-2026: How to Track Two Rates in One Tax Year
The IRS almost never changes the standard mileage rate mid-year — the last time was 2022.
Property Tax Deduction for Homeowners: What Counts and What Doesn't
With the SALT cap now high enough for most homeowners to deduct their full property tax bill, it matters more than ever to know which lines on that bill actually qualify — because not everything your county charges you is a deductible tax.
The New $40,400 SALT Deduction Cap: What Homeowners Need to Know for 2026
For years, the $10,000 SALT deduction cap was one of the most-criticized pieces of the 2017 tax law, hitting homeowners in high-tax states the hardest.
AI Tools and Software Subscriptions: What Freelancers Can Actually Deduct in 2026
Software subscriptions have quietly become one of the fastest-growing expense categories for freelancers, as AI writing, design, coding, and research tools join the usual stack of invoicing, project management, and cloud storage apps.
The QBI Deduction Is Now Permanent: What the 2026 Rule Changes Mean for Freelancers
The 20% Qualified Business Income (QBI) deduction was one of the biggest tax breaks to come out of the 2017 tax law — and it was scheduled to disappear entirely after 2025.
Crypto Taxes for Freelancers Paid in Bitcoin or Stablecoins
What happens at tax time when a client pays your invoice in crypto instead of dollars.
Section 179 vs. Bonus Depreciation: Deducting Equipment Purchases Immediately
Two different ways to write off a laptop, camera, or work vehicle in the year you buy it — and when each one makes more sense.
Qualified Business Income (QBI) Deduction Explained (Section 199A)
How the 20% pass-through deduction works, who phases out, and the paperwork that keeps it audit-proof.
Health Insurance Premiums Deduction for the Self-Employed
An above-the-line deduction that quietly saves self-employed taxpayers thousands — if the eligibility rules are met.
Charitable Donation Deductions: Cash vs. Non-Cash Contribution Rules
Giving is generous on its own — knowing the documentation rules is what actually protects the deduction.
Mortgage Interest Deduction Explained for Homeowners
One of the largest itemized deductions available — and one of the easiest to get slightly wrong.
Medical Expense Deduction: How the 7.5% AGI Threshold Works
You can't deduct medical costs from dollar one — here's the exact math the IRS applies before anything counts.
Real Estate Agent Tax Deductions: MLS Fees, Mileage, and Marketing Costs
Commission-based income comes with commission-sized deductions — if you know where to look.
Content Creator Tax Deductions: Equipment, Software, and Subscriptions You Can Write Off
From ring lights to editing software, here's what YouTubers, streamers, and influencers can legitimately deduct.
SALT Deduction Cap Explained: How the $10,000 Limit Affects You
State and local tax deductions used to be unlimited. Here is what changed, and how high-tax-state residents adjust.
Standard vs. Itemized Deductions: Which One Saves You More in 2026
The single most important decision on your tax return, explained with the exact IRS thresholds that decide it.
Uber and Lyft Driver Tax Deductions: The Complete Checklist
Every write-off a rideshare driver should be tracking, from phone mounts to platform fees.
Standard Mileage Rate vs. Actual Expenses: How to Deduct Business Driving the Smart Way
Two methods, one decision that can swing your deduction by thousands of dollars a year.
Home Office Deduction Guide for Freelancers: What You Can Actually Write Off
A practical breakdown of the simplified method vs. the regular method, and the exact square-footage math the IRS expects to see.