3 Mistakes Independent Contractors Should Avoid When Categorizing Business Expenses

3 Mistakes Independent Contractors Should Avoid When Categorizing Business Expenses

Recent highlights:

1. Home office expenses: If you work from home—as 86% of freelancers do—there are a number of home expenses that can count as business expenses.

2. If it's primarily for business purposes, then it is likely a business expense (get this one tattooed to your arm, because it's really easy to forget).

3. ' Therefore all expenses must be related to the business, ordinary in the course of business and not exorbitant.

4. Mixing ExpensesOne of the most common mistakes freelancers make is failing to separate their personal and business expenses

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