Can I write off "business" expenses without having an LLC?

May 15, 2022
Question from free financial advice: Can I write off "business" expenses without having an LLC?

Short answer: Yes

Long answer: Yessss

As a sole proprietor, if you receive business income, you’ll report the income on IRS Form 1040 (Schedule C). If you have business expenses to deduct, they will be included within that Form 1040.

As long as the expenses are necessary for your business, they can typically be written off in full. I recommend using an accounting software as it will help you easily add up and categorize deductible business expenses.

Also read: How do tax write-offs actually work?

Since tax season just ended, here are 17 deductions you can use next year to reduce your taxable income:


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Disclaimer: This should should be viewed as "education-only" and for legal purposes, this should not be considered investment, tax, or legal advice.

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