3 Mistakes Independent Contractors Should Avoid When Categorizing Business Expenses

3 Mistakes Independent Contractors Should Avoid When Categorizing Business Expenses

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1. Home office expenses: If you work from home—as 86% of freelancers do—there are a number of home expenses that can count as business expenses.

2. If it's primarily for business purposes, then it is likely a business expense (get this one tattooed to your arm, because it's really easy to forget).

3. ' Therefore all expenses must be related to the business, ordinary in the course of business and not exorbitant.

4. Travel and transportation: If you travel for business, you may be able to deduct expenses such as housing, meals, transportation, and Airbnb cancellation costs when you realize you accidentally booked one in a barn that you're sharing with a literal horse (just me

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