Now settting up a home office

From what I'm reading, I can write off a new computer and printer to lower my Self Employment tax. I've been wanting to get a Surface Pro for mystery shopping.

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I'm also using the simplified method of using the home office. You just measure the size of the room. No need to keep track of anything else.
Deductions such as the ones you listed will lower your self-employment income. That, in turn, will reduce the amount of Self-Employment tax which is due.

Note that if you are contributing to a SEP, reducing your self-employment income also reduces the amount aht you can ut into a tax-advantaged account.
@johnb974 wrote:

From what I'm reading, I can write off a new computer and printer to lower my Self Employment tax. I've been wanting to get a Surface Pro for mystery shopping.

Shopping Southeast Pennsylvania, Delaware above the canal, and South Jersey since 2008
I don't have a SEP. I'm 65, so I don't know what good it will do me now. The same with starting an IRA.
Mostly, they build tax free, and reduce taxable income. You don't HAVE to take payouts until you're 72 and a half (I think). And you can put much more in, being over 65.

Think: TAX SHELTER.

Poor man's tax shelter, as it were.
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