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Donations and contributions to Public Schools are tax deductible and they are treated the same way when you donate to charities.
If your side work is a hobby, you donât get to deduct $300 worth of expenses. You get to deduct $75, and all the rest you get to pay the full taxable amount on. As a business, however, you can deduct the full cost of all business expenses. This is a big deal once you start making a significant side income.