Consultants understand the value of getting an expert’s opinion. So let us offer up a bit of free advice: as a freelance consultant, you can save significantly on your tax bill simply by writing off all the ordinary business expenses you encounter every day.
Whether its productivity software or the cost of attending your latest industry conference, you can put these expenses to work for you. And we’ve made it even easier, by assembling a list of the best write-offs for consultants!
Schedule C, Box 27a
Coaching, seminars, or workshops used to maintain your work-related skills can be written off.
Schedule C, Box 27a
Educational books to increase your knowledge and skills are tax write-offs.
Schedule C, Box 27a
Newspaper or magazine subscriptions used for work-related research can be written off.
Schedule C, Box 8
Squarespace, Wix, GoDaddy, and other website service fees are fully tax-deductible.
Schedule C, Box 8
Business cards, postcards, and other materials used to promote yourself are deductible.
Schedule C, Box 27a
Part of your actual phone's cost, monthly phone bill, and any accessories you use for work can be written off.
Schedule C, Box 11
Write off the fees you pay to contract labor to help you complete projects.
Schedule C, Box 18
Computers, extra monitors, webcams, and microphones needed to teach are write-offs.
Schedule C, Box 17
Professional services like lawyers, accountants, and more can be deducted on your taxes.
Schedule C, Box 8
Business cards with your contact information count as advertising expenses.
Schedule C, Box 18
Software you use for invoicing, tracking expenses, creating timesheets, and so on is deductible.
Schedule C, Box 8
Ad campaigns on Google, Meta, TikTok, and more are all deductible on your taxes.
The responsibilities of a consultant vary daily, from picking up office supplies to meeting with clients and attending networking events and conferences.If you spend time driving for work, you can deduct a portion of your car expenses.
Schedule C, Box 27a
Parking for a meeting downtown, or any other work trip, is tax-deductible!
Schedule C, Box 27a
A toll while driving to or from a work destination is tax-deductible!
Schedule C, Box 13
If you buy a new car, you can write off part of the cost every year for five years.
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Flashlights, tire iron, duct tape, and other tools you may need in your vehicle are deductible.
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Car insurance monthly fees, registration, even roadside assistance are partially deductible.
Schedule C, Box 9
Oil changes, repairs, and regular checkups are all tax-deductible if you drive for work.
In addition to out-of-town networking events, your consulting business also probably benefits from taking clients out to dinner to chat about your services or grabbing a bite with lawyers, accountants, and fellow consultants.As long as the meeting is work-related, you can write off the cost of your food and drink.
Schedule C, Box 24b
If you discuss work with a coworker, mentor, client, or prospective client, it's a write-off!
As a consultant, networking is key. That likely involves venturing to out-of-own conferences, seminars, workshops, or meet-ups. Luckily, work-related travel expenses can be written off!
Schedule C, Box 24a
Planes, trains, and car rentals are all work-related travel costs that can be written off.
Schedule C, Box 24a
When you travel for work, lodging expenses such as hotel rooms or Airbnb are write offs.
Schedule C, Box 24a
When you're traveling for work, all meals are tax-deductible. Even takeout!
You don't need a separate work room with a closing door to deduct home office expenses. A dedicated desk where you conduct client calls or work on lead generation and client development also counts!
Schedule C, Box 18
A desk, chairs, lamps, and other home office necessities are all tax write-offs.
Schedule C, Box 21
You can write off up to $2,500 for individual repairs to your property.
Form 8829
Gotta keep the lights on in your home office! A portion of your electricity bill counts.
Form 8829
Whether it's rental or homeowners insurance, you can write off a portion through your home office deduction.
Form 8829
It'd be hard to work in an office without running water, huh? You water bill counts.
Schedule C, Box 25
Your Comcast bill is a tax write-off. You need internet to do your job!
