How to Get Tax Breaks as a Freelance Writer

There are a lot of great things about being a freelance writer, and the tax breaks are one of them. Freelance writers must pay self-employment tax so keeping track of deductions is very important.

Difficulty: Moderate

Instructions

Things You'll Need:

• Binder
• Envelope

1. Keep receipts for office supplies. Use an envelope or box to organize them. Freelance writers are permitted to deduct expenditures relating to paper, pens and even postage.

2. Deduct the cost of a computer, printer, and scanner as long as they are used solely for the business.

3. Keep track of any expenses associated with research, travel or association dues.

4. Freelance writers are permitted to deduct the space they use in their home for an office. You can write-off the percentage of your mortgage that makes up the office space as well as that same percentage of utilities.

5. Freelance writers may also deduct the cost of insurance premiums from their taxes

Tips & Warnings

• Talk to a tax professional for more details.
• Keep records and receipts. Be prepared in case you are audited.