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Question
I work from home, what can I deduct on my taxes related to this?
AI accountant’s answer:
As a freelancer or 1099 contractor working from home, you may be eligible to deduct home office expenses on your tax return. To do this, you need to meet the following two requirements: 1. Regular and exclusive use: The space in your home must be used regularly and exclusively for your business. Exclusive use means that the space isn't used for personal activities, and it is dedicated only to your business. 2. Principal place of business: Your home office must be the main place where you conduct your business or a place where you regularly meet with clients or customers. If you meet these requirements, you can deduct home office expenses. There are two methods for calculating the home office deduction: 1. Simplified method: You're allowed to deduct $5 per square foot of the home office space, up to a maximum of 300 square feet, resulting in a maximum deduction of $1,500. 2. Regular method: With this method, you'll calculate the actual expenses related to your home office, like the percentage of your rent or mortgage interest, utilities, property taxes, maintenance, and other expenses. Besides the home office deduction, you can also deduct other business-related expenses, such as: - Office supplies and equipment - Internet and phone expenses (only the business portion) - Professional organization memberships and subscriptions - Business insurance premiums - Travel and mileage expenses for business purposes - Marketing and advertising costs Always keep detailed records and receipts for all your business expenses to support your deductions if needed.
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Keeper’s AI Accountant

This AI accountant is powered by GPT-4, but has up-to-date knowledge of tax law. It’s been trained on federal and state tax updates for 2023. With credentialed tax professionals fact-checking its responses, it applies IRS rules to real-world situations.

Find write-offs.
File taxes.

Keeper helps independent contractors and freelancers discover tax deductions and file taxes.

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Ask an AI Accountant

A free tool by

Question
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AI accountant’s answer:

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

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This is some text inside of a div block.

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Not Correct.
Icon check
Looks good

Keeper’s AI Accountant

This AI accountant is powered by GPT-4, but has up-to-date knowledge of tax law. It’s been trained on federal and state tax updates for 2023. With credentialed tax professionals fact-checking its responses, it applies IRS rules to real-world situations.

Find write-offs.
File taxes.

Keeper helps independent contractors and freelancers discover tax deductions and file taxes.

Get started