9 Tax Deductions for the Self-Employed

If you’re self-employed, you already know you wear a lot of hats—including tax filer. The good news is, there are several tax deductions that can help reduce your tax bill and keep more of your income where it belongs—with you.

Below are 9 common deductions self-employed individuals may qualify for. This information is for general education only and not tax advice. Be sure to consult with a qualified professional like Walker Tax Relief before making any decisions about your return.

1. Phone and Internet Expenses
If you use your personal phone or internet connection for business purposes, you can typically deduct a portion of those costs. You’ll need to document how much of your usage is business-related.

2. Health Insurance Premiums
Self-employed individuals may be able to deduct the cost of health insurance for themselves, their spouse, and dependents. This can be a significant deduction—especially if you pay out-of-pocket for coverage.

3. Client or Business Meals
If you take a client out for lunch or meet over coffee to talk business, you can usually deduct 50% of the meal cost. Keep detailed records of the date, who attended, and the purpose of the meeting.

4. Vehicle Use
If you use your personal car for business, you may be able to deduct expenses like gas, repairs, and maintenance. Be sure to log your mileage and note the business purpose of each trip.

5. Professional Subscriptions
Subscriptions to industry-specific publications or online platforms used for your work can typically be deducted as a business expense.

6. Business Mileage
Rather than tracking actual car expenses, you can choose to deduct business mileage using the IRS standard mileage rate (which changes annually). Accurate logs of each trip are a must.

7. Office Rent or Lease
If you rent office space specifically for your business, that cost is deductible. Even if you work from home, you may be able to deduct a portion of your rent if you meet the home office requirements.

8. Educational Expenses
Courses, workshops, webinars, or certifications that help you maintain or improve your business skills can usually be written off—if they relate directly to your trade or profession.

9. Home Office Deduction
If you work from home in a dedicated space used exclusively for business, you may qualify for the home office deduction. This can include a portion of your rent/mortgage, utilities, and repairs.

Need Help Navigating Self-Employed Deductions?
Self-employment taxes can get complicated—but you don’t have to figure it out alone. At Walker Tax Relief, I help clients across Michigan and beyond file accurately and confidently. If you’re looking for a northville accountant, an enrolled agent near you, or someone to assist with bookkeeping for small business, I’m here to help.

Reach out today for a free consultation.
We’ll go over your situation, identify the deductions that apply to you, and make sure you’re organized, compliant, and on track for financial success.