Author: Can I Deduct This
NJ-1040 Deductions and Credits: The Complete 2025 Cheat Sheet
New Jersey’s income tax return works nothing like the federal 1040 — there’s no standard deduction, no federal-style itemizing, and a completely different list of what you can claim. This cheat sheet covers every deduction, exemption, and credit allowed on the 2025 NJ-1040, with links to our detailed guides on each. First, the Big Surprise:…
IRS Publication 463 Vehicle Expenses Explained: Mileage Rate, Car Washes, Parking & Tolls (2025)
IRS Publication 463 is the rulebook for deducting vehicle expenses — and it answers the questions self-employed drivers search for most: what the standard mileage rate includes, whether you can deduct car washes separately, and what you’re allowed to add on top. This guide translates Pub 463’s vehicle rules into plain English and links to…
Airbnb and Short-Term Rental Host Tax Deductions (2025)
Renting out a spare room, a whole house, or a vacation property on Airbnb or Vrbo turns you into a landlord in the eyes of the IRS, and that comes with a long list of deductible expenses most first-time hosts never claim. Whether you rent a few weekends a year or run multiple listings full-time,…
Rental Property Tax Deductions for Landlords: The Complete 2025 Guide
Owning a rental property comes with real headaches — leaky faucets, late-night maintenance calls, and tenant turnover — but it also comes with one of the most generous sets of tax deductions available to any small business owner. Here’s a complete breakdown of what landlords can write off in 2025. Rental Income Is Reported on…
Musician and Performer Tax Deductions: What Artists Can Write Off (2025)
Musicians, actors, dancers, and other performing artists often work as independent contractors moving between gigs, sessions, and short-term contracts. That patchwork income comes with a patchwork of deductible expenses that many performers never claim because they don’t realize how broadly the IRS defines a business expense for artists. Performing as a Business If you’re paid…
Contractor and Tradesperson Tax Deductions: Tools, Equipment & Vehicles (2025)
Electricians, plumbers, HVAC techs, carpenters, and other independent contractors in the trades often buy thousands of dollars in tools, equipment, and vehicle expenses every year. If you’re self-employed rather than a W-2 employee of a contracting company, nearly all of that spending is deductible. Are You Self-Employed or a W-2 Employee? If you work as…
Hair Stylist and Booth Renter Tax Deductions (2025)
Hair stylists, barbers, and cosmetologists who rent a booth or chair at a salon are typically running their own independent business rather than working as an employee of the salon. That self-employed status brings self-employment tax, but also a substantial list of deductions tied to the tools of the trade. Booth Rent vs. Employee Status…
Section 179 vs. Bonus Depreciation: Which Saves You More on Vehicles & Equipment in 2025?
When a business buys a vehicle, equipment, or machinery, the tax code offers two powerful ways to deduct that cost quickly instead of spreading it over many years: Section 179 expensing and bonus depreciation. They often get lumped together, but the rules and strategic uses differ enough that picking the right one — or the…
Leasing vs. Buying a Business Vehicle: Which Gives You a Bigger Deduction?
Buying a vehicle for your business unlocks large upfront depreciation deductions, while leasing offers smaller but steadier write-offs and lower monthly costs. Neither option is universally better — the right choice depends on your cash flow, how long you plan to keep the vehicle, and how much you drive. How Deducting a Purchased Vehicle Works…
Electric Vehicle Tax Credit vs. Deduction: What’s the Difference in 2025?
Electric vehicle tax breaks get confusing fast because there are actually two separate concepts at play: a tax credit for buying the vehicle, and ordinary business deductions if you use the vehicle for work. They work completely differently, and EV credit rules have changed multiple times in recent years, so it’s worth understanding both pieces…