Letters to the Editor
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It's Not Just Freelancers Who are Self-Employed
But most of your advice was spot on for the rest of us, too.
A few additions: DO NOT depreciate your office space--it will be taken from your "Free" appreciation when you eventually sell. DO use as deductions ANY AND ALL house related expenses if you EVER have clients/customers come to the house. While I am not fond of the enormous cost of energy to heat, wire and cool our home, it is a comfort to know that nearly 10% of it is a deductible expense, based on the square footage of our home.
Similarly, the plants we put in the yard, the water bill, the garbage collection, internet and phone are ALL deductible based on that %age of the house that is my home office.
I will need a new laptop this year...deductible. When I buy a new desk to replace this inefficient, overwhelming behemoth...deductible. Driving to the post office with products for a customer...deductible. And going out to dinner and talking with the waiter about products/business...deductible.
WOOHOO for self-employment.