Common Tax Deductions for the Freelance Writer

• Office space in your home (calculated as a percentage, in square feet, of your whole house). This percentage is then used to determine what percent of property taxes, insurance, and mortgage payment you can deduct as a business expense.
• Computer(s)
• Research Material
• Part of your utility expenses
• Internet expenses
• Travel Expenses to Conferences
• Website Expenses
• Services Purchased (such as website design or hosting)
• Software
• Medical insurance
  

Remember if you continue to show a loss, year after year, the IRS considers your business a "hobby," rather than a business for profit. Deductions can not be taken from "hobby income." Also, year after year business losses are an audit red flag.