When it's time to file your self-employment taxes and you're faced with your tax bill, you might wish that you could fuse each dollar you earn to your bank account. Luckily, you can significantly reduce the amount you owe by deducting your business expenses on your Schedule C.
This list includes most work-related expenses, like equipment, union dues, protective gear, and lots more! Keep scrolling for the full list of write-offs welders should claim when they file their taxes.
Schedule C, Box 23
Fees to get or renew your license to perform your work are fully deductible.
Schedule C, Box 22
Write off the protective gear, like goggles and gloves, you wear while performing electrical work.
Schedule C, Box 27a
Continuing education class required to keep your job are fully deductible.
Schedule C, Box 27a
If you belong to a union, go ahead and write off your dues.
Schedule C, Box 15
Protecting yourself and your business with liability insurance? It's a write-off.
Blowtorches, spool guns, and other welding tools are tax-deductible for you.
Picking up welding supplies, meeting clients, or traveling between job sites? Go ahead and write off 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.
The cost of dining with a mentor, client, or fellow welder can be written off your taxes as long as your conversations are about work.
Schedule C, Box 24b
If you discuss work with a coworker, mentor, client, or prospective client, it's a write-off!
As long as they're "ordinary" and "necessary" — meaning, typical of your industry and helpful for doing your job — travel expenses can be written off. You just have to be traveling for a work-related purpose, like attending a welding conference or working an out-of-town job.
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!
If regularly attend online welding courses, conduct industry research, or communicate with clients from your at-home workspace, don't forget to claim your home office deductions.
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!
