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Author: MissLeah Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121217  
Subject: Tax Help for Freelancer please Date: 2/8/2001 12:18 PM
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I'm a copywriter at an ad agency. In addition to my full-time job, I sometimes freelance write for other clients. A couple of years ago I made 10k in freelance and had several deductions including home office, mileage, etc.

Last year I only made $250.00 freelancing. Can I still deduct anything? Or is there a minimum amount you have to make. I'm in a panic because my husband and I are going to owe $4000 if I don't find a way to deduct something. We rent, combined we made 65k, and my husband accidentally (his version of the story) claimed 2 dependents. I claimed 0.

$4000 is more than we've been able to save for a house in 2 years. Any help would be very appreciated.

Thank you - Miss Leah
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Author: JFour Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 45971 of 121217
Subject: Re: Tax Help for Freelancer please Date: 2/8/2001 1:16 PM
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Miss Leah

Phil posted a succint reply to your question at #45927.

The only thing I might add is, based on the information you gave us ($65K income, renters) you're probably in the 28% tax bracket, which will require over $14,000 in deductions in order to offset $4,000 in tax. Hope it works out.

Jim

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