Yes, I have
No, I don't
Working from home is one of the greatest perks of being a freelancer especially if you operate your business from home full-time. Claiming a home office deduction can be very advantageous, especially if you are self-employed.
She is a business mentor who, with the help of FlyFin, was able to deduct a bunch of home office expenses for her workspace at her beach house. Danielle managed to write off a portion of her rent, the software she uses for editing and marketing purposes, devices and equipment such as headphones & microphones, she uses for recording her podcast.
Home-office expenses can get tricky but with FlyFin, Danielle deducted a lot of expenses and got maximum tax savings. Based on her expenses, FlyFin found $4,340 worth of deductions for Danielle.
Danielle believes that if all freelancers come together to tell even one tax deduction they took, it will build a community and help millions of freelancers to save loads on taxes. This is her deduction story and she is now waiting to hear from you all.
Since the onset of the Covid19 pandemic, millions of freelancers struggled to set up a home office, and they often did not consider these expenses as a deductible.
She is a lifestyle blogger who also was unaware of the perks of the home office deduction. She had set up her home office and bought supplies for the workspace, however, she didn’t consider these expenses as a deductible.
But, with the help of FlyFin, she was able to deduct all the necessary expenses like- home-office furniture, phone & internet expenses, software she used for business interactions. FlyFin’s CPA team informed her that even her office expense was a tax deduction (she got $5 per square foot).
Taxes are complicated, that’s a fact. They become even more confusing if you’re a freelancer. It has been observed that over 75% of freelancers overpay their quarterly taxes because they often do not pay attention to the deductions.
Meet Taryn, a blogger, and health coach, who as a freelancer struggled with organizing her taxes. As a freelancer, she naturally had a lot of questions about tax deductions that apply to her, how to estimate her quarterly taxes, self-employed tax forms, and much more. But with FlyFin, she found all the answers to her questions.
With FlyFin, she was able to deduct Wix as a business expense. Moreover, with the help of the CPAs, she also managed to write off a portion of her rent through the home office deduction. Taryn was able to save 30% on her quarterly taxes through these deductions!
Find your exact home office deductions and much more with the world’s 1st A.I. tax engine for freelancers