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What can I claim as a deduction if I'm a dog walker with Wag?
AI accountant’s answer:
As a dog walker with Wag, you are likely an independent contractor, which makes you self-employed. Therefore, you can deduct certain expenses related to your dog walking business on your tax return, using Schedule C (Form 1040) or Schedule C-EZ (Form 1040). Some common deductions for dog walkers include: 1. Vehicle expenses: If you use your car to travel from client to client or pick up and drop off dogs, you can deduct your vehicle-related expenses. You have two options: the standard mileage rate or actual expenses. The standard mileage rate for 2022 is 58.5 cents per mile. If you choose the actual expenses method, you can deduct expenses like gas, oil, repairs, insurance, and depreciation. 2. Cell phone expenses: If you use your cell phone for business purposes, you can deduct a portion of your cell phone bill that corresponds to your business use. 3. Equipment and supplies: You can deduct the cost of dog walking equipment and supplies such as leashes, harnesses, waste bags, and treats. 4. Advertising and marketing: Expenses related to promoting your business, such as business cards, flyers, website hosting, and online advertising, can be deductible. 5. Insurance: If you have a business insurance policy specifically for your dog walking business, you can deduct the premiums. 6. Licenses and permits: Any fees you pay for licenses and permits related to your business are deductible. 7. Home office: If you use a dedicated space in your home exclusively and regularly for your dog walking business, you may qualify for the home office deduction. You can use either the simplified method (up to 300 square feet at $5 per square foot) or the actual expense method, which involves calculating the percentage of your home used for business. 8. Professional services: If you hire an accountant, attorney, or other professional for your dog walking business, you can deduct their fees. Remember to keep accurate records and receipts for all your business expenses to substantiate your deductions.
Comment from reviewer
Isaiah McCoy, CPA

Schedule C-EZ is no longer in use as of tax year 2019. Also, for the second half of 2022, the standard mileage rate was 62.5 cents per mile.

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