Deducting Software, Subscriptions and Equipment (Section 179 Basics)

Section 179 deduction for freelancers: a laptop and camera tagged for Section 179 or bonus depreciation, and a $30 monthly app subscription tagged as an expense

The Section 179 deduction for freelancers lets you write off the full cost of business equipment in the year you start using it, instead of spreading it over several years. Software subscriptions are even simpler: they’re ordinary expenses you deduct as you pay them. And items up to $2,500 each can usually be deducted right … Read more