Tax Write Offs And Deductions For Lab Technicians

As a lab technician, you're not just a wizard in a white coat, you're also a business owner. And like any savvy business owner, you know that understanding your tax write-offs and deductions is crucial to keeping your finances in check. Here's a list of potential deductions that could help you save some serious green.

1. Analytics Software

Analytics software is a crucial tool for lab technicians. It helps you analyze data, make predictions, and solve problems. Whether you're using it to interpret experimental results or manage your business operations, it's an expense you can't ignore.

How to write it off: Report this expense on Schedule C, Box 18 of your tax return.

2. Business Meals

Even lab technicians need to eat! If you're discussing business over a meal, you can write off a portion of the cost. Just remember to keep your receipts and note the purpose of the meal.

How to write it off: Report this expense on Schedule C, Box 24b of your tax return.

3. Car Insurance & Registration

If you use your car for business purposes, you can deduct the cost of car insurance and registration. This includes trips to meet clients, pick up supplies, or even drive to a conference.

How to write it off: Report this expense on Schedule C, Box 15 of your tax return.

4. Car Maintenance

Keeping your vehicle in tip-top shape is essential for those business-related road trips. You can deduct expenses related to car maintenance, including oil changes, tire rotations, and other routine services.

How to write it off: Report this expense on Schedule C, Box 9 of your tax return.

5. Car Purchase & Depreciation

If you've purchased a car primarily for business use, you can deduct a portion of the cost. You can also write off the depreciation of the car over time.

How to write it off: Report this expense on Schedule C, Box 13 of your tax return.

6. Certifications & Licenses

Staying certified and licensed is a non-negotiable part of being a lab technician. The cost of maintaining these credentials can be written off as a business expense.

How to write it off: Report this expense on Schedule C, Box 23 of your tax return.

7. Continued Education

Keeping up with the latest in lab tech requires continuous learning. Whether it's a course, a conference, or a workshop, you can deduct these educational expenses.

How to write it off: Report this expense on Schedule C, Box 27a of your tax return.

8. Home Office Furniture

If you're working from a home lab, you'll need a comfortable and functional workspace. The cost of home office furniture can be written off as a business expense.

How to write it off: Report this expense on Schedule C, Box 18 of your tax return.

9. Lab Coats & Upkeep

Your lab coat isn't just a fashion statement, it's a necessary tool of your trade. The cost of purchasing and maintaining your lab coats can be written off.

How to write it off: Report this expense on Schedule C, Box 27a of your tax return.

10. Lab Tools & Equipment

From microscopes to centrifuges, lab tools and equipment are essential to your work. These expenses can be written off as business expenses.

How to write it off: Report this expense on Schedule C, Box 22 of your tax return.

11. Meals While Traveling

When you're on the road for business, your meals can be written off. Just remember to keep those receipts!

How to write it off: Report this expense on Schedule C, Box 24a of your tax return.

12. Parking

Those pesky parking fees can add up, especially if you're frequently visiting clients or attending conferences. You can write off these expenses.

How to write it off: Report this expense on Schedule C, Box 27a of your tax return.

13. Power Bill

If you're running a home lab, your power bill can be a significant business expense. You can write off a portion of this cost.

How to write it off: Report this expense on Form 8829 of your tax return.

14. Property Insurance

If you own your lab space, property insurance is a necessary expense. You can write off a portion of this cost.

How to write it off: Report this expense on Form 8829 of your tax return.

15. Property Repairs

Keeping your lab in good working order is essential. You can write off the cost of repairs to your property.

How to write it off: Report this expense on Schedule C, Box 21 of your tax return.

16. Protective Gear

Safety first! Protective gear is a necessary expense for lab technicians. You can write off the cost of items like gloves, goggles, and face shields.

How to write it off: Report this expense on Schedule C, Box 22 of your tax return.

17. Testing Supplies

From test tubes to petri dishes, testing supplies are a major expense for lab technicians. You can write off these costs.

How to write it off: Report this expense on Schedule C, Box 22 of your tax return.

18. Tolls

If your business travels take you through toll roads, you can write off these costs. Just remember to keep your receipts!

How to write it off: Report this expense on Schedule C, Box 27a of your tax return.

19. Transportation

Whether it's a taxi ride to a client meeting or a flight to a conference, you can write off your business travel expenses.

How to write it off: Report this expense on Schedule C, Box 24a of your tax return.

20. Travel Lodging

If you're traveling for business, you can write off the cost of your accommodations. This includes hotels, Airbnb rentals, and other forms of lodging.

How to write it off: Report this expense on Schedule C, Box 24a of your tax return.

21. Vehicle Tool Kit

A vehicle tool kit can be a lifesaver when you're on the road for business. You can write off the cost of purchasing and maintaining this kit.

How to write it off: Report this expense on Schedule C, Box 22 of your tax return.

22. Water Bill

If you're running a home lab, your water bill can be a significant business expense. You can write off a portion of this cost.

How to write it off: Report this expense on Form 8829 of your tax return.

23. Wi-Fi Bill

In today's digital age, a reliable internet connection is a must for any business. You can write off a portion of your Wi-Fi bill as a business expense.

How to write it off: Report this expense on Schedule C, Box 25 of your tax return.

What is Workmade?

WorkMade is an all-in-one banking and accounting app designed specifically for freelancers! WorkMade gives you access to: zero-fee business banking, automated bookkeeping, fast and easy invoicing, and quarterly tax estimations and payments.

About Workmade
An artistic photograph of a freelancer getting paid

The banking app that pays your taxes, finds write-offs and gets you paid fast.

Free to download. Sign up in 60 seconds.

Learn More

Do your thing.

It only takes 60s to

Get Started

Scan to download the app.