Question

Freelance Income

Forum|Forum|4 years ago
October 27, 2021
1 reply
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Hi,

I've been working as a freelancer for all of 2021, but every job I've taken has W4'd me. With taxes withheld from paychecks, and no 1099 income. When it comes time for taxes, will I be able to write off business expenses like a new computer? Or will the W4 make that tricky?

Thanks!

FreelanceFred

Michele_H

Hi @FreelanceFred, here is some information related to a W-2 and employee business expenses. If you are filling out the W-4, you will get a W-2 and the only qualifying employees that can get a deduction are the following:

Armed Forces reservists
Qualified performing artists
Fee-basis state or local government officials
Employees with impairment-related work expenses

No other type of employee is eligible to claim a deduction for unreimbursed employee expense

W-2 employees may not be able to deduct home office expenses from their 2020 federal taxes, but those who pay taxes in Alabama, Arkansas, California, Hawaii, Minnesota, New York, or Pennsylvania are eligible to itemize unreimbursed employee expenses on their state taxes.

However, if you receive a 1099-NEC or have filled out a W-9 for an employer, you may be able to deduct some of the expenses.

Hope this information helps 🙂

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