Upskilling and Tax Relief for Independent Contractors
Contracting info, Expenses
With the back-to-school season in full swing, it’s not only students who should be sharpening their skills. As an independent contractor, staying ahead in your field often means upskilling. The good news? Upskilling can be tax efficient. If you take on training directly related to your current contract (or to the services your company provides), the cost of that course may qualify as a business expense — meaning you can claim tax relief and reduce your overall tax bill.