33 Tax Write-Offs for Bloggers (2024) (2024)

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33 Tax Write-Offs for Bloggers (2024)? ›

For tax year 2024, the standard deduction for single filers and married people filing separately is $14,600 ($13,850 in 2023). Married taxpayers filing jointly can deduct $29,200 ($27,700 in 2023).

For tax year 2024, the standard deduction for single filers and married people filing separately is $14,600 ($13,850 in 2023). Married taxpayers filing jointly can deduct $29,200 ($27,700 in 2023).

The Tax Cuts and Jobs Act brought significant changes to entertainment deductions. Entertainment expenses are no longer deductible. This means that expenses related to golf games, courtside tickets, and other entertainment activities are no longer eligible for deduction.

For food bloggers, the expenses related to groceries can be deducted. However, personal grocery costs aren't tax-deductible.

2024 Section 179 deduction limit

In 2024 (taxes filed in 2025), the Section 179 deduction is limited to $1,220,000. The maximum deductible amount begins to decrease if more than $3,050,000 worth of property is placed in service. The 2024 Section 179 deduction limit for SUVs is $30,500.

The deadline to file taxes is April 15, 2024, unless an extension is requested. Remember that an extension to file is not an extension to pay and taxpayers should still make any tax payments by the deadline. Taxpayers who made $79,000 or less in 2023 can file their taxes for free using the IRS's Free File program.

For 2024, assuming no changes, Ellen's standard deduction would be $16,550: the usual 2024 standard deduction of $14,600 available to single filers, plus one additional standard deduction of $1,950 for those over 65.

For tax years beginning on or after January 1, 2018, and before January 1, 2026, section 250 generally allows a deduction equal to the sum of 37.5% of the corporation's FDII plus 50% of its GILTI (thereafter, these deductions are reduced to 21.875% and 37.5%, respectively).

Standard deduction Standard deduction reduces taxable income to create a zero rate tax bracket. Not available for taxpayers who itemize. Single: $14,600 Married: $29,200 Single: $8,300 Married: $16,600 Allow current law to take effect.