Owning your own business can have many tax advantages. But did you know the average 9 to 5 worker can take advantage of several expenses that can be written off as a personal expense on their taxes?
We gathered a short, but important list to remind you of all the personal expenses that can be written off on your taxes.
- Interest paid on mortgage
- Interest paid on equity loans
- Interest paid on student loans
- Child care expenses
- Adoption expenses
- Job search expenses
- Moving expenses
- Health insurance premiums
- Medical and Dental expenses
- School Tuition
- Amount paid for last year's tax preparation
- Theft and casualty losses
- Alimony paid
- State and local taxes paid
- Work related expenses (not covered by employer)
- + more!
There may be other personal expenses that are relevant to you. Check out the IRS website for more.
If you're ready to schedule an appointment with Godfather Services, we are more than happy to help.