When we include our tax deductions, we must always remember the Big Four: Mortgage interest,
State income taxes, Real estate taxes and Charitable contributions. John and Edith, a couple
starting a business, had this in mind and they were also aware that 2017 was the last year to be
able to write off Miscellaneous Expenses on Schedule A, until 2026, when they will revert to
2017 rules.

The Tax Cut and Jobs Act (TCJA) suspends Miscellaneous Expense deductions until 2026, but
there is still a potential for getting these tax deductions. The couple knows this because they
sought help from their tax professional.

If you freelance, earn side work, or have your own business you can still write off many
items that are currently lost for employees. Having your own business allows you to write off
any expense that is used for the business. Try to earn non-employee (self-employed) income
from freelance or side work and you can write off many, if not all the expenses listed below.

Internal Revenue Code Section 162 allows for any expense of running a business that is
reasonable and ordinary. Be sure to check with your state rules, where they might be allowed,
too!

Some business deductions are as follows:

• Tax Preparation, Consultation, investment, or planning fees for business.
• Advertising, marketing, website creation and maintenance fees
• Auto expenses (be sure to keep a logbook, if you use the vehicle for both business and
  personal trips) No logbook, No deduction!
• Bank Fees and credit card processing fees
• Communication Expenses (phones, internet, data plans)
• Dues, Professional organizations and groups
• Education to improve your existing knowledge in a business (Not allowed if it prepares you
  for a new career or job, or a new professional license).
• Equipment bought, repaired or maintained.
• Health insurance premiums (includes Medicare insurance)
• Home Office expenses (you can have more than one office)
• Legal, accounting or other professional fees to manage or defend your income (professional
  athletes get to deduct fines they pay to their leagues for misconduct.)
• License Fees and renewals
• Office equipment and supplies
• Payroll and sub-contractor expenses
• Printing, postage, and shipping costs
• Travel, transportation and lodging expenses (many expenses here that you wouldn’t think of)
• Uniforms and laundry expenses
• Qualified Business Income deduction
• Check with azmoneyguy, or your tax advisor, to see if your situation and circumstances
  allow you to deduct business expenses.

Call today, don’t delay! See how this affects you. We can be reached at 602-264-9331 and on all social media under azmoneyguy.

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