There are several tax deductions that are not available to regular wage earners, but architects can claim for the same, especially if they are working as self-employed professionals. Though you can always hire a tax attorney to help you deal with the legal technicalities associated with tax return filing, it is still wise to get yourself informed about the special benefits that have been provided to architects under the US tax laws. The following information should help.

Tax Tips For Architects

Meals And Gifts

Architects have to meet their clients to discuss their projects. Most of their projects are discussed during a business dinner or lunch. As per the tax laws in the United States of America, you are allowed to deduct up to 50% of the expenses caused during business-related meals.

Because of their specific profession, architects sometimes also have to give direct gifts to their clients. You can deduct the full price of that gift from your taxable income provided the cost of the gift per person should not exceed 25% of your annual income.

Business-Related Travelling

As per the US tax laws for architects, all sorts of expenses associated with business-related travelling are 100% tax deductible. Architects have to visit construction sites and also have to travel to different places, sometimes out of town, to meet their clients in their respective offices. If you are using your own vehicle exclusively for business purpose only and are still making the auto loan payments, you can deduct those payments from your taxable income.

Even the depreciation in the value of such vehicles is also treated as a tax deductible loss. Likewise, if you do not own a vehicle and have to lease a car for your business-related travelling, you can deduct those expenses from your taxes. Besides that, fuel expenses are also tax deductible at the rate of 50 cents per mile travelled.

Work Space

If you are working as a self-employed architect, you can deduct the expenses associated with your work space, regardless of whether you have rented a commercial space for your office or are running your office right from your home. If you are using a home office, it is always wise to dedicate a specific portion of your house for business purpose only. This will make things easy for you when it comes to claiming deductions under this category while you are filing your tax returns.

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Some of the expenses that are 100% tax deductible under this category may include the cost of office furniture (chairs, desks, storage) and the cost of equipment (computers etc). Besides that, you can also deduct utility bills (electricity, Internet etc). If you are still making payments towards mortgage, you can deduct a certain percentage of those payments, depending upon the exact square footage area you are using as your office.

Likewise, if you are living in a rented home, you can deduct a portion of the rent as office rent. Besides all that, various tools of the trade are also tax deductible for self-employed architects, such as drafting board, your business computer, paper, pencils and drafting software programs.

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