7 Tax Write-Offs Solopreneurs Forget Every Year
Sam's List Editorial | 2026-06-27
7 Tax Write-Offs Solopreneurs Forget Every Year Solopreneurs tend to overpay tax not by missing the obvious deductions but by forgetting the legitimate ones that require a little tracking. Each forgotten write-off is money left with the IRS for no reason. Here are seven tax write-offs solopreneurs forget every year, each with what you need to claim it properly. One rule applies to all of them: a deduction you cannot substantiate is a deduction you should not claim. The goal is to capture what you are entitled to, with the records to back it up, not to stretch. 1. The Home Office Deduction If you use part of your home regularly and exclusively for business, you may be able to deduct related costs. Many solopreneurs skip it out of audit fear, but claimed correctly with proper records, it is legitimate. What you need: a dedicated space and a reasonable method for calculating it. 2. Health Insurance Premiums Self-employed individuals may be able to deduct health insurance premiums under specific rules. It is easy to overlook because it is not a typical business expense. What you need: eligibility under the self-employed health insurance rules and accurate premium records. 3. Retirement Contributions Solo 401(k) and SEP IRA contributions can both build retirement savings and reduce taxable income, with higher limits than a basic IRA. Many solopreneurs never set one up. What you need: the right account and attention to contribution limits and deadlines. 4. The Qualified Business Income Deduction Many self-employed people may qualify for a deduction of up to a portion of qualified business income, subject to limits and phase-outs. It is valuable and frequently misunderstood. What you need: eligibility under the rules, which depend on your income and business type. 5. Business Use of Your Vehicle If you drive for business, you can generally deduct the business portion using either mileage or actual expenses. Solopreneurs often forget to track it and lose the whole deduction. What you need: a contemporaneous mileage log or expense records. 6. Software, Subscriptions, and Tools The small recurring costs of running a solo business, software, subscriptions, professional tools, add up and are deductible, yet they slip through unrecorded. What you need: a system that captures these as they happen rather than at year-end. 7. Professional Development and Education Courses, books, and training that maintain or improve skills for your current business can often be deductible. Solopreneurs forget these routinely. What you need: a clear connection to your existing business...
