18 Miss. Code. R. 14-20.5 - Allowable Costs of Producing Self-Employment Income

Most costs of producing self-employment income are deductible, with some exceptions. Allowable self-employment expenses include, but are not limited to:

A. Labor expenses, including employer taxes, insurance premiums, and wages;

B. Insurance premiums for buildings, business vehicles, machinery, and trade;

C. Payments (principal and interest) for the purchase prices of income-producing real estate, capital assets, equipment, machinery and payments for maintenance, repairs and storage;

D. Supplies such as feed, fertilizer, plants, raw materials, seeds, stock; and

E. Taxes paid on income producing property.

Notes

18 Miss. Code. R. 14-20.5

7 CFR §273.11(b)(1)

Adopted 3/15/2022 Amended 10/20/2023 Amended 12/9/2024 Amended 2/17/2025