1099 Tax Calculator | How Much Will I Owe?
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If you’re a 1099 independent contractor, you can deduct ordinary and necessary business expenses to reduce your taxable income. Here are the most common and IRS-approved write-offs: ✅ Top Tax Deductions for Independent Contractors 1. Home Office Deduction 🏡 If you use part of your home regularly and exclusively for work: • A portion of rent/mortgage • Utilities (electric, internet, water) • Home insurance • Repairs/maintenance in your office space You can use the simplified method ($5 per sq ft
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