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Lev
Lev, Tax Advisor
Category: Tax
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Experience:  Taxes, Immigration, Labor Relations
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AS A LIVE-IN CAREGIVER IN FLORIDA, WHAT WRITE OFFS AM I ENTITLED

Customer Question

AS A LIVE-IN CAREGIVER IN FLORIDA, WHAT WRITE OFFS AM I ENTITLED TO USE ON MY TAX RETURNS. I AM A 1099 CONTRACTOR.
Submitted: 7 years ago.
Category: Tax
Expert:  Lev replied 7 years ago.

You are not automatically entitled to any deductions for business purposes. First of all to be deductible - you should have some expenses and keep a good record.

 

For tax purposes, deductible business expenses are the ordinary and necessary expenses for your business, profession, or job.

-- An ordinary expense is one that is common and accepted in your field of trade, business, or profession.

-- A necessary expense is one that is helpful and appropriate for your business. An expense does not have to be required to be considered necessary.

 

For deductible expenses - please review the IRS publication 535 Business Expenses - http://www.irs.gov/pub/irs-pdf/p535.pdf

another helpful publication is the IRS publication 463 Travel, Entertainment, Gift, and Car Expenses - http://www.irs.gov/pub/irs-pdf/p463.pdf

and the Publication 334 Tax Guide for Small Business - http://www.irs.gov/pub/irs-pdf/p334.pdf

 

You may deduct professional liability insurance as your business expenses, but not your health insurance. Self-employed health insurance deduction is reported separately as adjustment to income on the form 1040 line 29 - http://www.irs.gov/pub/irs-pdf/f1040.pdf

Travel expenses from home to work are considered not-deductible commuting expenses. But travel for your business are deductible.

If you use your own uniform, tools, supply etc - that would be your deductible business expenses.

You may also deduct part of tax preparation expenses as your business expenses.

 

If you are a caregiver - your employer may be eligible to claim all or part of expenses as medical expenses.

Please let me know if you need any help.