Money Monday: Deductions for the self employed

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Tax Law Changes:

  • Itemizing items going by the boards
  • Tax prep fees
  • Car registration fees
  • Home office deduction

One group can still take these deductions: The self employed.

Here is the list of other itemized deductions ONLY the self employed can take now:

  • Airline baggage fees
  • Health insurance—including long term care
  • Professional society membership dues
  • Work uniforms
  • Car for business use
  • Business travel expenses including meals, lodging, laundry and business calls.
  • Work-related entertainment and gifts

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