The 3 Write-offs Most Freelancers Miss

You are probably leaving money on the table

The average freelancer who files a Schedule C claims fewer than six deductions. The IRS allows dozens. Here are three that come up in almost every return but rarely get claimed.

1. Health insurance premiums

If you pay for your own health insurance and your business turns a profit, you can deduct 100% of the premiums -- including dental and vision -- directly on your 1040. You do not need to itemize. This is one of the largest deductions available to self-employed people and one of the most overlooked.

2. The self-employment tax deduction

You pay 15.3% SE tax on your net profit. Half of that amount -- 7.65% -- is deductible. The IRS lets you subtract it from your gross income automatically. If your net profit was $40,000, that is a $3,060 deduction you get without doing anything extra.

3. Retirement contributions

A SEP-IRA lets you contribute up to 25% of net self-employment income, to a maximum of $70,000 in 2026. Every dollar contributed reduces your taxable income dollar for dollar. A solo 401(k) has even more flexibility if you want to contribute both as employee and employer.

Tax software will prompt you for mileage and home office. It rarely asks about these three. If you use a guide or work with a CPA, make sure all of them are on the table.