When one begins on the path of self employment, tax deductions can mean the difference between success and failure when taken legally and wisely. Of course, there is some wiggle room when it comes to deciding just what is and isn’t a acceptable as a deduction. The IRS has several examples of decisions that serve as tax law president,
Self employment tax deductions are able to be taken for just about any expense that you legitimately use for the business and the business alone. This can include a great deal of home office furnishings, equipment and services. For instance, part of your rent or mortgage is deductible as the percentage of it that your office occupies.