Three self-employed deductions people miss most often

Work for yourself and file Schedule C? Check these three items.

1. Health insurance

If you pay for health insurance for yourself and your family and aren't eligible for an employer plan (yours or your spouse's), you can deduct it from income. It's an "above the line" deduction, so it works even if you don't itemize.

2. Home office

If part of your home is used regularly and exclusively for work, there's a simplified method: $5 per square foot, up to 300 square feet, for up to $1,500 a year. No utility or depreciation calculations.

3. SEP-IRA retirement account

You can put away roughly up to 20% of your net business income (subject to an annual limit), and that amount reduces your tax. The key point: you can open and fund a SEP-IRA right up to your return's due date, including extensions. So for 2026 you still have until spring 2027.

All three deductions need records: the policy and payments, a floor plan of the space, account statements. Collect them during the year, not in April.