As a massage therapist, how do I make tax deductions?

I'm paid on 1099, and would like to make deductions! Gas, medical insurance, massage oils, sheets... Do I need receipts for all these things? I haven't kept all my gas receipts!!





I've never done this before, how does it work?As a massage therapist, how do I make tax deductions?
Massage oils and sheets, should be deductible but yes you'd need receipts.





The only way gas would be deductible is if you are traveling to multiple sites in a workday - then the trip from home to the first site, and from the last site to home, wouldn't be, but you could deduct any interim trips through the day. If you have that situation, keep a good log of all of the miles you drive your vehicle, noted as personal, commuting or business - you can take the percentage of actual expenses that covers the business miles, or you could forget about receipts for car expenses and just take the flat rate which was 48.5 cents a mile for business miles, probably enough to cover your costs.





You can deduct your medical insurance costs as a medical expense if you itemize, otherwise no. If you do itemize, you can only deduct the part of your med expenses that is over 7.5% of your adjusted gross income.As a massage therapist, how do I make tax deductions?
Travel expenses are exact costs by totaling all receipts or a standard deduction using mileage. 48.5 cents per mile. You cannot deduct mileage from home to work, that is commuting not business travel.





All other expenses can be deducted under supplies, maintenance, etc. using a 1040 schedule C. Visit www.irs.gov and search 2007 schedule c instructions.
Receipts are a good idea. You can estimate the amounts but if you get audited, the IRS will want receipts.


Best thing to do is this case is to make all business purchases on one specific credit card so you can always get the monthly statements if not the exact receipts.





You just claim the stuff as business expenses.