Tax Deductions Are Few for Pro-Bono Freelance Work, Get in the Know

For the expenses you can deduct (see the IRS guidance below), you must itemize your deductions on Schedule A of your federal 1040 tax return for them to be eligible and this practice is usually only favorable if the amount would be greater than the standard deduction which is now $12,950 for individuals and $25,900 for married taxpayers filing jointly.

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