Common tax write offs for content creators

As a content creator, you are considered self-employed by the IRS. Therefore, most purchases you make that are ordinary and required to run your business are likely tax-deductible. 

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Whether you make content on Tiktok, Substack, or any other platform, you can potentially save a lot in taxes by writing off your business expenses. Here are some purchases you might be able to deduct as a content creator:

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✅ Your home office

Having a home office allows you to write off a percentage of *all* your home-related expenses. This includes rent, Wi-Fi, home supplies (like soap, toilet paper, etc), h​ome repairs, and more.

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✅ Your devices (phone, computer, displays, etc)

Any device you use to post and manage your social media accounts could be tax deductible. This includes your phone, computer, displays, lighting equipment, etc. If you use a device for both personal and business, only deduct the portion of the expense related to the business use.

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✅ Software

Any software you pay for and that is used for your business is tax-deductible. Subscription fees for things like Slack, Dropbox, and Shopify are tax-deductible.

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✅ Marketing

Are you using services like Facebook Ads or Promoted Videos on YouTube to advertise your content and grow your following? The costs associated with these are tax write-offs. You can also deduct the cost of prizes from contests and giveaways.

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✅ Inventory costs

Do you sell swag or merch online? The cost of inventory, any processing, and shipping are tax-write offs. And if you can’t keep your inventory at home, you can also write-off the fees associated with storage.

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✅ You can write off about 60 cents per mile you drive for your business.

This can add up to a lot of money! Things like parking, tolls, car washes, and DMV fees are also deductible. One caveat to remember: commuting to/from your office doesn’t count.

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✅ Restaurant meals with friends are tax deductible as long as they add some value to your business.

What does that mean? Well, things like business networking, getting business advice, learning about your industry, etc.

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✅ Travel, for up to a year, can be tax deductible.

For example, if you're living in Los Angeles and you travel to San Diego for the summer to work with other content creators or expand your network, and you work regular hours while you're there, you can write off all your travel, meals, and lodging expenses.

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✅ Magazine, podcast, and newsletter subscription can be Education write-offs.

Since they can be an effective way to stay up to date with your industry and help you become an industry expert, they’re tax deductible.

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✅ Health insurance premiums

When you’re self-employed and paying for your own healthcare, you can take advantage of a tax break called the ‘self-employed health insurance deduction.’ This deduction allows you to deduct the cost of your health and dental insurance premiums as an adjustment to your income on the Form 1040 (also known as an ‘above-the-line’ deduction), rather than as a business expense on your Schedule C. You’re eligible for this tax break as long as you’re self-employed, paying for your own healthcare, and were not offered coverage from an employer or on a spouse’s health plan.

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