3. You Are Self-Employed and Took Advantage of Deductions
Self-employed individuals or independent contractors can often deduct many business expenses, reducing taxable income. Your business expenses increase or you discover new eligible deductions. You can lower your tax bill and get a bigger 2025 Tax refund. Standard deductions include home office costs, supplies, and business-related travel.
Know More From The Internal Revenue Service – Tax Withholding Estimator
What to Do: Maintain records of expenses for each year. That way, you will never miss any deduction that will mean money in your pocket.
Action Needed: Work with a tax professional or CPA to maximize your self-employment deductions and minimize the likelihood of mistakes in your returns.
Hi there! I am Sudip Sengupta, the face behind “Tfin Career”. Tfin Career is a sole proprietorship finance and consulting firm that makes complex tax and financial concepts easy to understand for everyone. With more than 21 years of experience in the field, I have noticed that people cannot make the right decisions in this field. So, I decided to create “Tfin Career” to help individuals and businesses alike. Here I urge those who are confused to make better choices. Also, it is good news for my dear clients and every visitor that I/we are going to start a training module for those who want to choose a career path in Finance and Taxation. Just follow my website.
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