Tax Time Tips For Self-Employed Recruiters

The tax filing deadline is just around the corner; but there is still time for self-employed recruiters to take advantage of many tax deductions.  Did you know that besides big deductions like your travel expenses or home-office there are plenty of smaller deductions that when combined can add up to huge savings? Below are a few tips:

1. Self-employed recruiters may be able to deduct some of their cell phone costs if they use the phone for business at least 50 percent of the time.
2. Self-employed recruiters may be able to deduct their web hosting and internet charges from their taxes.
3. Self-employed recruiters may be able to deduct the cost of business-related books, magazines, and newspaper subscriptions.
4. If a self-employed recruiters uses his/her vehicle for business, they may be able to deduct work-related expenses for gas, maintenance, insurance, and other costs, either using the IRS's standard mileage rate or by calculating the actual costs.
5. If a self-employed recruiter has invested in equipment, vehicles, or software up to $250,000 in costs can be written off immediately, rather than depreciated over future years.