![]() Do it, and watch the numbers in this column rise! If you want to lower your tax liability as much as you possibly can, you’ll want to record every deduction you possibly can. ![]() It shows how much you can shave off your taxable income for each Schedule C category. ![]() ![]() This column is going to be your meat and potatoes. Your gross expense amount and your tax deduction for these miscellaneous categories will calculate automatically, based on what you enter in the "Other Expense - Grouped" tab.
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