Find answers to your questions by our expert CPAs

Dixon Garcia

CPA, FlyFin

If you drive, fly, uber, etc. for your freelance work, you can deduct those expenses.

Dixon Garcia

CPA, FlyFin

Generally, only the interest portion for certain types of loans are tax-deductible. This includes the interest on student loan, business vehicle loan, Home mortgage interest, and the interest on some business loans.

Dixon Garcia

CPA, FlyFin

If you have a regular and dedicated place at your home for your freelancing work then you can claim a portion of Rent, Utilities, House repairs and maintenance, Home insurance etc. as a home office deduction. For example, if your work area is 200 sq ft and the house area is 2000 sq ft, then you’d be able to deduct up to 10% of the Rent, Utilities, House repairs and maintenance, home insurance etc. An individual who lives in one state but works in another may have tax liability in both states but typically will receive a tax credit in their state of residence to eliminate double taxation of that income. If you were a full-year or part-year resident of New York State and you had income sourced to and taxed by another state you may claim a nonrefundable resident credit against your New York State tax. Please book the CPA call for filing your 2021 tax returns in the FlyFin App.

Dixon Garcia

CPA, FlyFin

Please let us know the type of insurance you have taken from Liberty Mutual Insurance company, before we can advise if you can take them as deductions. In general, Renters insurance is tax-deductible only when you are running a business from your apartment or rental home and you've set aside an area meant solely for work. You may also deduct your Car insurance costs from your taxes, for the percentage of the time you use your car for business. If half the time you use your car is for business, then you may deduct 50% of the yearly auto insurance costs on your taxes.

Dixon Garcia

CPA, FlyFin

Please let us know the purpose of these transfers as we need more context about these payments before we can advise if you can take them as deductions. In general, if these transfers/payments were made for your freelance work then you can take them as a deduction.

Dixon Garcia

CPA, FlyFin

If you have a regular and dedicated place at your home for your freelancing work then you can claim a portion of Rent, Utilities, House repairs and maintenance, Home insurance etc. as home office deduction. For example, if your work area is 200 sq ft and the house area is 2000 sq ft, then you’d be able to deduct up to 10% of the Rent, Utilities, House repairs and maintenance, home insurance etc. In the FlyFin app, mark all home-office related expenses as deductions and we will apply a % based on the area of your home office at the time of tax filing.

Dixon Garcia

CPA, FlyFin

If you have a regular and dedicated place at your home for your freelancing work then you can claim a portion of Rent, Utilities, House repairs and maintenance, Home insurance etc. as home office deduction. For example, if your work area is 200 sq ft and the house area is 2000 sq ft, then you’d be able to deduct up to 10% of the Rent, Utilities, House repairs and maintenance, home insurance etc. In the FlyFin app, mark all home-office related expenses as deductions and we will apply a % based on the area of your home office at the time of tax filing.

Dixon Garcia

CPA, FlyFin

Noom Plan fees are usually non-deductible unless prescribed by a healthcare professional based on your medical condition.

Dixon Garcia

CPA, FlyFin

Please let us know the purpose of these transfers as we need more context about these payments before we can advise if you can take them as deductions. In general, if these transfers/payments were made for your freelance work then you can take them as a deduction.

Dixon Garcia

CPA, FlyFin

In general, you can deduct Cash withdrawal fees, Foreign transaction fees, Overdraft fees, Membership fees, bank fees, monthly maintenance fees etc. when they are from a business account.

Dixon Garcia

CPA, FlyFin

In general, if you use your phone & Internet services exclusively for business purposes, then you can take 100% of the expense as deduction on Schedule C of Form 1040. However, if the expense is partly business and partly personal purposes then you can deduct your phone & internet bills in proportion to its business use. For example, if someone uses their phone 50% of the time for business use (this includes calls, messaging etc.) then they can deduct 50% of the overall phone bills. In the FlyFin app, you can mark all such phone and internet expenses as deductions and later on we will apply a % based on business usage at the time of tax filing.

Dixon Garcia

CPA, FlyFin

Please let us know the purpose of these transfers as we need more context about these payments before we can advise if you can take them as deductions. In general, if these transfers/payments were made for your freelance work then you can take them as a deduction.

Dixon Garcia

CPA, FlyFin

Only when you have a home office, you will be able to claim a portion of the expenses like rent, utilities, repairs and maintenance as tax deduction.

Dixon Garcia

CPA, FlyFin

If you have a regular and dedicated place at your home for your freelancing work then you can claim a portion of Rent, Utilities, House repairs and maintenance, Home insurance etc. as home office deduction. For example, if your work area is 200 sq ft and the house area is 2000 sq ft, then you’d be able to deduct up to 10% of the Rent, Utilities, House repairs and maintenance, home insurance etc. In the FlyFin app, mark all home-office related expenses as deductions and we will apply a % based on the area of your home office at the time of tax filing.

Dixon Garcia

CPA, FlyFin

If you have a regular and dedicated place at your home for your freelancing work then you can claim a portion of Rent, Utilities, House repairs and maintenance, Home insurance etc. as home office deduction. For example, if your work area is 200 sq ft and the house area is 2000 sq ft, then you’d be able to deduct up to 10% of the Rent, Utilities, House repairs and maintenance, home insurance etc. In the FlyFin app, mark all home-office related expenses as deductions and we will apply a % based on the area of your home office at the time of tax filing.

Dixon Garcia

CPA, FlyFin

In General, the IRS does not allow any Entertainment, Personal, living or family expenses as tax deductions. However, if the devices & equipment purchased which are necessary for the operation of business then you can take deduction on Schedule C of Form 1040.

Dixon Garcia

CPA, FlyFin

If you are self-employed, you may be eligible to deduct premiums that you pay for medical, dental and qualifying long-term care insurance coverage for you and your family including dependents.

Dixon Garcia

CPA, FlyFin

In general, if the Amazon Prime subscription is exclusively for your freelancing business, then you can take 100% as a deduction on your Schedule C deductions.

Dixon Garcia

CPA, FlyFin

Please let us know the purpose of these transfers as we need more context about these payments before we can advise if you can take them as deductions. In general, if these transfers/payments were made for your freelance work then you can take them as a deduction.

Dixon Garcia

CPA, FlyFin

Generally, the IRS allows businesses to deduct the full purchase price of business supplies, furnishing, devices & equipment, Books & subscription etc necessary for the operation of the business. However, if the expense is partly for business and partly for personal purposes, divide the total cost between the business and personal parts. You can deduct the business part on Schedule C of IRS Form 1040. The IRS requires documentation of any business expense you deduct, so it is important to save your receipts. In the FlyFin app, you can mark it as a deduction and we will include the applicable business portion at the time of tax filing.

Dixon Garcia

CPA, FlyFin

Generally, the IRS allows artists to deduct the expenses like art supplies, transportation and art museum tickets etc necessary for the profession.

Dixon Garcia

CPA, FlyFin

If you drive your personal vehicle for your freelancing work then you can take a portion of your vehicle expenses such as Vehicle Registration fees, gas, vehicle insurance, car wash, vehicle repair and maintenance etc as business deductions under Schedule C deductions. In the FlyFin app, you can mark all vehicle related expenses as deduction and we will apply a % based on business use at the time of tax filing. You can also opt for the standard mileage rate of 56 cents per mile driven for business use in 2021. At the time of tax filing, FlyFin CPA will calculate and compare your vehicle deductions by both these methods and select the most appropriate method for you.

Dixon Garcia

CPA, FlyFin

In General, investment transfers are not tax deductible. However, if you have sold an investment for less than the value you bought it, you can write off the capital loss as a tax deduction on your annual return to offset any capital gains you may owe the IRS.

Dixon Garcia

CPA, FlyFin

In general, Life insurance premiums are considered as personal expenses and are not tax deductible on your personal tax return.

Dixon Garcia

CPA, FlyFin

If you have a regular and dedicated place at your home for your freelancing work then you can claim a portion of Rent, Utilities, House repairs and maintenance, Home insurance etc. as home office deduction. For example, if your work area is 200 sq ft and the house area is 2000 sq ft, then you’d be able to deduct up to 10% of the Rent, Utilities, House repairs and maintenance, home insurance etc. In the FlyFin app, mark all home-office related expenses as deductions and we will apply a % based on the area of your home office at the time of tax filing.

Dixon Garcia

CPA, FlyFin

Please let us know the purpose of these transfers as we need more context about these payments before we can advise if you can take them as deductions. In general, if these transfers/payments were made for your freelance work then you can take them as a deduction.

Dixon Garcia

CPA, FlyFin

In general, if any transfers/payments were made for your freelance work then you can take them as a deduction on Schedule C of Form 1040. Please record these expenses and mention at the time of tax filing for appropriate accounting of your business expenses.

Dixon Garcia

CPA, FlyFin

Generally, the IRS allows businesses to deduct the full purchase price of office & business supplies, furnishing, devices & equipment etc necessary for the operation of business.

Dixon Garcia

CPA, FlyFin

If you drive your personal vehicle for your freelancing work then you can take a portion of your vehicle expenses as business deductions under Schedule C of IRS Form 1040. Eligible expenses include lease payments(depreciation for own vehicle), gas, vehicle repair and maintenance, car wash, vehicle insurance etc. You can also opt for the standard mileage rate of 56 cents per mile driven for business use in 2021. At the time of tax filing, FlyFin CPA will calculate and compare your vehicle deductions by both these methods and select the most appropriate method for you

Dixon Garcia

CPA, FlyFin

Generally, you can take the deduction of these payments if the expenses are not classified in other accounts (to avoid double-counting).

Dixon Garcia

CPA, FlyFin

In General, investment transfers are not tax deductible. However, if you have sold an investment for less than the value you bought it, you can write off the capital loss as a tax deduction on your annual return to offset any capital gains you may owe the IRS.

Dixon Garcia

CPA, FlyFin

In General, the transfer of funds between your own accounts is not considered as an expense, Hence, it is not tax-deductible. Only the expenses related to your freelance business are eligible for tax deduction on Sch C of IRS Form 1040.

Dixon Garcia

CPA, FlyFin

Please check if the expense is for Gasoline for your vehicle or other groceries from LP Mart. If you drive your personal vehicle for your freelancing work then you can take a portion of your vehicle expenses such as Vehicle Registration fees, gas, oil, vehicle insurance, car wash, vehicle repair and maintenance etc as business deductions under Schedule C deductions. In the FlyFin app, you can mark all vehicle related expenses as deduction and we will apply a % based on business use at the time of tax filing.

Dixon Garcia

CPA, FlyFin

Charitable contributions to individuals are not deductible. Only qualified organisations listed under IRC 501(c)(3) are eligible to receive tax deductible contributions.

Dixon Garcia

CPA, FlyFin

In general, if you use software subscription services (Storage services) exclusively for your income generating freelancing business, then you can take 100% of that deduction as an expense on your Schedule C itemized deductions.

Dixon Garcia

CPA, FlyFin

Generally, only the interest portion for certain types of loans are tax-deductible. This includes the interest on business vehicle loan, Home mortgage interest, student loan interest, and the interest on some business loans. However, if you have an interest expense which is partly for business and partly for personal purposes, divide the total cost between the business and personal parts. You can deduct the business part on Schedule C of IRS Form 1040. In the FlyFin app, you can mark it as a deduction and we will include the interest portion at the time of tax filing.

Dixon Garcia

CPA, FlyFin

If you have a regular and dedicated place at your home for your freelancing work then you can claim a portion of Rent, Utilities, House repairs and maintenance, Home insurance etc. as home office deduction. For example, if your work area is 200 sq ft and the house area is 2000 sq ft, then you’d be able to deduct up to 10% of the Rent, Utilities, House repairs and maintenance, home insurance etc. In the FlyFin app, mark all home-office related expenses as deductions and we will apply a % based on the area of your home office at the time of tax filing.

Dixon Garcia

CPA, FlyFin

In General, any purchase/payment must be a necessary expense which is helpful and appropriate for your trade or business to be tax deductible. Clothing & Accessories bought primarily for your freelance work can be deducted.

Dixon Garcia

CPA, FlyFin

In general, the IRS does not allow any Entertainment, Personal, living or family expenses as tax deductions.

Dixon Garcia

CPA, FlyFin

Generally, only the interest portion for certain types of loans are tax-deductible. This includes the interest on business vehicle loan, Home mortgage interest, student loan interest, and the interest on some business loans. However, if you have an interest expense which is partly for business and partly for personal purposes, divide the total cost between the business and personal parts. You can deduct the business part on Schedule C of IRS Form 1040. In the FlyFin app, you can mark it as a deduction and we will include the interest portion as well as applicable depreciation deduction at the time of tax filing.

Dixon Garcia

CPA, FlyFin

Deducting medical expenses & Pet Health insurance, and pet supplies is not allowed on the tax returns. The only exception would be if the pet is a certified service animal, like a guide dog. It is appropriate to use the 'personal' category.

Dixon Garcia

CPA, FlyFin

In General, investment transfers are not tax deductible. However, if you have sold an investment for less than the value you bought it, you can write off the capital loss as a tax deduction on your annual return to offset any capital gains you may owe the IRS. Please do not delete the non deductions. But review the deductions and non deductions and take action on possible deductions by moving the transactions to deductible/ non deductible.

Dixon Garcia

CPA, FlyFin

If you have a regular and dedicated place at your home for your freelancing work then you can claim a portion of Rent, Utilities, House repairs and maintenance, Home insurance etc. as home office deduction. For example, if your work area is 200 sq ft and the house area is 2000 sq ft, then you’d be able to deduct up to 10% of the Rent, Utilities, House repairs and maintenance, home insurance etc. In the FlyFin app, mark all home-office related expenses as deductions and we will apply a % based on the area of your home office at the time of tax filing.

Dixon Garcia

CPA, FlyFin

Generally, the IRS allows businesses to deduct the full purchase price of business supplies, furnishing, devices & equipment, Books & subscription etc necessary for the operation of the business.

Dixon Garcia

CPA, FlyFin

In General, the IRS does not allow any Entertainment, Personal, living or family expenses as tax deductions. However, you can deduct no more than $25 of the cost of business gifts to your client you give directly or indirectly to each person during the tax year.

Dixon Garcia

CPA, FlyFin

Generally, the IRS permits businesses to deduct all research and experimental costs.

Dixon Garcia

CPA, FlyFin

Hotel and related expenses meant for your freelance work are deductible.

Dixon Garcia

CPA, FlyFin

Hotel and related expenses meant for your freelance work are deductible.

Dixon Garcia

CPA, FlyFin

In General, only the interest portion for certain types of loans are tax-deductible. This includes the interest on business vehicle loan, Home mortgage interest, student loan interest, and the interest on some business loans. If you use the office exclusively and regularly for administrative or management activities of your trade or business then you can claim Mortgage interest, Utilities, House repairs and maintenance, Home insurance, home depreciation etc. as home office deduction.

Dixon Garcia

CPA, FlyFin

Generally, the IRS allows businesses to deduct the full purchase price of business supplies, furnishing, devices & equipment, Books & subscription etc necessary for the operation of the business. However, if the expense is partly for business and partly for personal purposes, divide the total cost between the business and personal parts. You can deduct the business part on Schedule C of IRS Form 1040. The IRS requires documentation of any business expense you deduct, so it is important to save your receipts. In the FlyFin app, you can mark it as a deduction and we will include the applicable business portion at the time of tax filing.

Dixon Garcia

CPA, FlyFin

In General, if you receive any payment out of freelancing business it is considered as your freelancing income. Therefore, it is not tax deductible.

Dixon Garcia

CPA, FlyFin

In general, the expenses related to your freelance business are eligible for tax deduction on Schedule C of IRS Form 1040.

Dixon Garcia

CPA, FlyFin

If the expense includes any interest portion, you can claim it as deduction.

Dixon Garcia

CPA, FlyFin

In general, if you use your phone & Internet services for both business and personal purposes then you can deduct your phone & internet bills in proportion to its business use. For example, if someone uses their phone 50% of the time for business use (this includes calls, messaging etc.) then they can deduct 50% of the overall phone bills. In the FlyFin app, you can mark all such phone and internet expenses as deductions and later on we will apply a % based on business usage at the time of tax filing.

Dixon Garcia

CPA, FlyFin

In General, any purchase must be a necessary and reasonable expense which is helpful and appropriate for your trade or business to be tax deductible. However, if the expense is related to business and is partly for business and partly for personal purposes, divide the total cost between the business and personal parts. You can deduct the business part on Schedule C of IRS Form 1040.

Dixon Garcia

CPA, FlyFin

In General, transfer of funds between your own accounts is not considered as an expense, Hence, it is not tax deductible. Only the expenses related to your freelance business are eligible for tax deduction on Schedule C of IRS Form 1040.

Dixon Garcia

CPA, FlyFin

In General, any purchase/payment must be a necessary expense which is helpful and appropriate for your trade or business to be tax deductible. Clothing & Accessories bought primarily for your freelance work can be deducted.

Dixon Garcia

CPA, FlyFin

Unfortunately, the IRS does not allow any ordinary meal during a normal work day as a deduction. If you have met a client “primarily” for freelancing business then you can deduct that meal expense.

Dixon Garcia

CPA, FlyFin

In General, any expense must be a necessary expense to be tax deductible. Therefore, Spotme Tip is not tax deductible. However, you can deduct Cash withdrawal fees, Foreign transaction fees, Overdraft fees, Membership fees, bank fees, monthly maintenance fees etc. when they are from a business account.

Dixon Garcia

CPA, FlyFin

In general, any expense must be a necessary expense to be deductible and it should be common in your freelance business.

Dixon Garcia

CPA, FlyFin

In general, the IRS does not allow any Entertainment, Personal, living or family expenses as tax deductions. However, if the Cash Withdrawal amount is utilized for your freelance business, the expenses are deductible on Schedule C of Form 1040.

Dixon Garcia

CPA, FlyFin

In General, transfer of funds between your own accounts is not considered as an expense, Hence, it is not tax deductible. Only the expenses related to your freelance business are eligible for tax deduction on Schedule C of IRS Form 1040.

Dixon Garcia

CPA, FlyFin

In general, the IRS does not allow any Entertainment, Personal, living or family expenses as tax deductions.

Dixon Garcia

CPA, FlyFin

Generally, the IRS allows businesses to deduct the rent or the full purchase price of business supplies, furnishing, devices & equipment, Books & subscription etc necessary for the operation of the business. However, if the expense is partly for business and partly for personal purposes, divide the total cost between the business and personal parts. You can deduct the business part on Schedule C of IRS Form 1040.

Dixon Garcia

CPA, FlyFin

In general, the IRS does not allow Summer school and tutoring programs as tax deductions.

Dixon Garcia

CPA, FlyFin

Generally, IRS does not allow the cost of vitamins, nutritional supplements, herbal supplements, natural medicines etc. as medical expense deduction unless they are recommended by a medical practitioner for treatment of a specific medical condition.

Dixon Garcia

CPA, FlyFin

Please let us know the purpose of these transfers as we need more context about these payments before we can advise if you can take them as deductions. In general, if these transfers/payments were made for your freelance work then you can take them as a deduction.

Dixon Garcia

CPA, FlyFin

Unfortunately, the IRS does not allow any ordinary meal during a normal work day as a deduction. If you have met a client “primarily” for freelancing business then you can deduct that meal expense.

Dixon Garcia

CPA, FlyFin

In general, the IRS does not allow any Entertainment, Personal, living or family expenses as tax deductions.

Dixon Garcia

CPA, FlyFin

In General, if your child is enrolled in a before- or after-school program so you can work or look for work, it can count toward your child and dependent care credit.

Dixon Garcia

CPA, FlyFin

In General, investment expenses are not tax deductible. However, if you have sold an investment for less than the value you bought it, you can write off the capital loss as a tax deduction on your annual return to offset any capital gains you may owe the IRS.

Dixon Garcia

CPA, FlyFin

If you drive your personal vehicle for your freelancing work then you can take a portion of your vehicle expenses such as Vehicle Registration fees, gas, oil, vehicle insurance, car wash, vehicle repair and maintenance etc as business deductions under Schedule C deductions. In the FlyFin app, you can mark all vehicle related expenses as deduction and we will apply a % based on business use at the time of tax filing.

Dixon Garcia

CPA, FlyFin

In general, professional services like legal services, and accounting-related services, filing fees for your income generating freelancing business are tax-deductible on your Schedule C of Form 1040. In the FlyFin App, you can mark the expense as a deduction.

Dixon Garcia

CPA, FlyFin

If you drive your personal vehicle for your freelancing work then you can take a portion of your vehicle expenses such as Vehicle Registration fees, gas, vehicle insurance, car wash, vehicle repair and maintenance etc as business deductions under Schedule C deductions. In the FlyFin app, you can mark all vehicle related expenses as deduction and we will apply a % based on business use at the time of tax filing. You can also opt for the standard mileage rate of 56 cents per mile driven for business use in 2021. At the time of tax filing, FlyFin CPA will calculate and compare your vehicle deductions by both these methods and select the most appropriate method for you.

Dixon Garcia

CPA, FlyFin

In general, if you use your phone & Internet services for both business and personal purposes then you can deduct your phone & internet bills in proportion to its business use. For example, if someone uses their phone 50% of the time for business use (this includes calls, messaging etc.) then they can deduct 50% of the overall phone bills. In the FlyFin app, you can mark all such phone and internet expenses as deductions and later on we will apply a % based on business usage at the time of tax filing.

Dixon Garcia

CPA, FlyFin

In general, the IRS does not allow any Entertainment, Personal, living or family expenses as tax deductions.

Dixon Garcia

CPA, FlyFin

In general, if you use your phone & Internet services for both business and personal purposes then you can deduct your phone & internet bills in proportion to its business use. For example, if someone uses their phone 50% of the time for business use (this includes calls, messaging etc.) then they can deduct 50% of the overall phone bills. In the FlyFin app, you can mark all such phone and internet expenses as deductions and later on we will apply a % based on business usage at the time of tax filing.

Dixon Garcia

CPA, FlyFin

Any unreimbursed medical expenses for you and your family including dependents can be taken as tax deduction on Schedule A of IRS Form 1040. Some of the deductible expenses include prescription medicines, Ambulance service and other travel costs to get medical care, Lodging expenses (but not meals) while away from home to receive medical care, Medical aids, Medical insurance premiums, clinic costs, Diagnostic tests, Medical examinations - X-ray and laboratory services etc.

Dixon Garcia

CPA, FlyFin

Generally, only the interest portion for certain types of loans is tax-deductible. This includes the interest on student loans, business vehicle loans, Home mortgage interest, and the interest on some business loans.

Dixon Garcia

CPA, FlyFin

Unfortunately, the IRS does not allow any ordinary meal during a normal work day as a deduction. If you have met a client “primarily” for freelancing business then you can deduct that meal expense.

Dixon Garcia

CPA, FlyFin

If you have a regular and dedicated place at your home for your freelancing work then you can claim a portion of Rent, Utilities, House repairs and maintenance, Home insurance etc. as home office deduction. For example, if your work area is 200 sq ft and the house area is 2000 sq ft, then you’d be able to deduct up to 10% of the Rent, Utilities, House repairs and maintenance, home insurance etc. In the FlyFin app, mark all home-office related expenses as deductions and we will apply a % based on the area of your home office at the time of tax filing.

Dixon Garcia

CPA, FlyFin

Expenses for beauty appointments, beauty products and other personal care can be deducted only if they are necessary for your freelance work

Dixon Garcia

CPA, FlyFin

In General, the IRS does not allow any Entertainment, personal things like housekeeping supplies, clothing and accessories, personal care products and services, and family expenses as tax deductions.

Dixon Garcia

CPA, FlyFin

In general, comedy shows and theater tickets are deductible as research costs on Schedule C of Form 1040. The IRS requires a justification of how the movie or play relates to your freelance business.

Dixon Garcia

CPA, FlyFin

If you have a regular and dedicated place at your home for your freelancing work then you can claim a portion of Rent, Utilities, House repairs and maintenance, Home insurance etc. as home office deduction. For example, if your work area is 200 sq ft and the house area is 2000 sq ft, then you’d be able to deduct up to 10% of the Rent, Utilities, House repairs and maintenance, home insurance etc. An individual who lives in one state but works in another may have tax liability in both states, but typically will receive a tax credit in their state of residence to eliminate double taxation of that income. If you were a full-year or part-year resident of New York State and you had income sourced to and taxed by another state you may claim a nonrefundable resident credit against your New York State tax. Please book the CPA call for filing your 2021 tax returns in the FlyFin App.

Dixon Garcia

CPA, FlyFin

If you are self-employed, you may be eligible to deduct premiums that you pay for medical, dental and qualifying long-term care insurance coverage for you and your family including dependents.