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Main Board Today's Top Viewed: Thank you.. (Views: 64)

What do you mean by?...SM - Old Anon

Posted: Jan 2nd, 2018 - 11:42 am In Reply to: I didn't want to do IC - sm

"with new tax law, ICs now get to deduct 20%. I'm an IC with 1 client of my own and have always been able to deduct a percentage of my expenses, based on the square footage of my home office. These include a percentage of mortgage interest, heat, electricity, sewer tax, water, etc. In addition, I deduct business supplies (printer ink/paper), a portion of my internet expenses, reference books, business equipment, business mileage, business postage, etc., etc. I have a small business specialist CPA prepare my tax return, and it's well worth the expense because it is done right. Please point me to a link that explains what you mean by "now get to deduct 20%" And it's 20% of "what" exactly?

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