Tax Deductions for Consultants

Some deductions that may be available to consultants include:

• Travel to and from clients;

• Computer equipment and software as well as insurance to protect them. For purchases over $1,000 items must be depreciated;

• Equipment repairs;

• Advertising, including directory listings;

• Internet costs to the extent it is used for work purposes;

Consultants may also be entitled to general tax deductions that are not work specific, such as investment deductions or car expenses deductions.