"Call security! The IRS is running away with all my money!"
That's something many self-employed people might think to themselves when tax time comes around.
But you can keep more of your finances under lock and key by remembering to write off eligible business expenses. For a security contractor, this might include anything from your uniform to self-defense classes to help you level up.
Keep reading for a comprehensive list of write-offs that most security professionals can claim to save money on their taxes.
Schedule C, Box 27a
Any uniforms you're required to wear on the job are considered tax-deductible.
Schedule C, Box 23
License fees to carry a weapon for work are considered tax write-offs.
Schedule C, Box 27a
Any required training on safety protocols can be written off.
Schedule C, Box 27a
Educational courses and certifications to enhance your skills are considered tax write-offs.
Schedule C, Box 27a
Krav Maga, karate, and other self-defense classes are tax-deductible.
Schedule C, Box 22
Security and patrolling supplies, like flashlights and tasers, are tax-deductible.
Schedule C, Box 27a
Any subscriptions to trade journals related to your industry are considered tax write-offs.
If you drive your own car to various job sites or to pick up uniforms and security supplies, feel free to deduct 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.
Schedule C, Box 22
Flashlights, tire iron, duct tape, and other tools you may need in your vehicle are deductible.
Schedule C, Box 15
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.
Grabbing food or drinks with fellow security personnel or clients to discuss work? Remember to write off your business meal costs.
Sadly, a cup of coffee to stay awake on a late-night shift doesn't count.
Schedule C, Box 24b
If you discuss work with a coworker, mentor, client, or prospective client, it's a write-off!
Your security work might take you out of town on business trips, like to attend an industry conference or take a temporary job.
Luckily, you can write off work-related travel costs.
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!
An important step of filing your 1099 taxes is writing off business expenses to lower your taxable income. This includes home office expenses if you work from home on things like industry research or studying up on the latest industry developments.
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!
