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Tax tips
Jun 23, 2022
Common tax deductions for solopreneurs
Want to learn to maximize your tax write-offs? Start here!
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5 lesser-known tax deductions for entrepreneurs
June 23, 2022
Check out these 5 write-offs for 2022 you probably didn't know about.
Our priority at Cruise is to help freelancers save money. Here are 5 tips to lower your tax bill today:
✅ Having a home office allows you to write off a percentage of *all* your home-related expenses.
This includes rent, Wi-Fi, home supplies (like soap, toilet paper, etc), home repairs, and more!
✅ You can write off about 58 cents per mile you drive for your business.
This can add up to a lot of money! Things like parking, tolls, car washes, and DMV fees are also deductible. One caveat to remember: commuting to/from your office doesn’t count.
✅ Restaurant meals with friends are tax deductible as long as they add some value to your business.
What does that mean? Well, things like business networking, getting business advice, learning about your industry, etc.
✅ Travel, for up to a year, can be tax deductible.
For example, if you're a freelancer living in Seattle and you travel to San Diego for the summer to expand your client network, and you work regular hours while you're there, you can write off all your travel, meals, and lodging expenses.
✅ Magazine, podcast, and newsletter subscription can be Education write-offs.
Since they can be an effective way to stay up to date with your industry and help you become an industry expert, they’re tax deductible.
Thousands of entrepreneurs, creators, and small business owners already run their business on Cruise. If, like them, you’re tired of accounting software made for accountants, you can try out Cruise for free.
Hope it helps!
The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business.
