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.
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