Sample Schedule C Deductions

As a self-employed person, one of the biggest benefits is that you get to deduct a wide variety of work-related expenses from your taxes. This is a luxury usually only afforded to wealthy business owners. It is a huge source of savings that you absolutely need to be taking advantage of (and that’s why it’s so important to keep track of your expenses). 

You should deduct every business expense that you can on your Schedule C. Some common deductions are: 

  • electronics used for work
  • office supplies
  • subscriptions to software like Photoshop or Path 
  • office furniture
  • web design expenses
  • business set up expenses (i.e. if you set up an S-Corp)
  • professional development courses, books and other educational materials
  • a portion of your rent/insurance if you work from home (or the lease on your office or co-working space)
  • a portion of your mobile phone bill if it’s used for work
  • a portion of your internet and utility bills if you work from home
  • transaction fees from companies like PayPal
  • a portion of your vehicle depreciation/expenses if you drive your car for work and other auto expenses
  • hotel expenses for business travel
  • food expenses when traveling for work
  • licenses (i.e. cosmetology license)
  • advertising expenses
  • client gifts
  • affiliate commissions
  • accounting services
  • and legal services, among others!