Can you file tax as a FTE and for startup/freelance work??

For part of last year I was working as a freelancer while pushing my startup. The rest of the year was getting paid a salary at a full-time job while I put personal stuff on hold temporarily (tough times).

My 2015 year was: freelance Jan 1 to Apr 24. Full time work April 27 to Dec 31.

I filed my taxes based on this. I claimed all my freelance expenses (as much as I could) only for the Jan to April timeframe. As a result, I OWED taxes to the IRS… Did I leave money on the table??

Should I have claimed freelancer expenses for the FULL year even though I kinda stopped freelance in April because I was employed full time? This could get me the max expenses claimed and perhaps avoided owing anything? Or is that illegal double dipping?

 


  • If you had legitimate business expenses the rest of the year you are entitled to deduct it regardless of FTE or not. It is double-dipping if you were reimbursed for the expenses from your employer and then filed a deduction on those expenses on your taxes or if those expenses were not related to your business (ie. filed for auto expenses when you were no longer using your car for business).

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