If you're a freelancer, you might be curious about potential tax deductions. Generally, any expense that’s ordinary and necessary for your business operations can be deducted, though there are many exceptions in the tax code. One commonly overlooked deduction for sole proprietors is the home office deduction. If you use a space in your home regularly and exclusively for business, you can deduct a portion of your mortgage interest or rent, utilities, insurance, maintenance, and HOA dues.  Another useful deduction for small business owners is the business use of your cell phone. If you have multiple lines, break out the portion of the bill for your line and estimate a reasonable business use percentage, like 25% or 30%. Additionally, don’t forget about the mileage deduction for your personal vehicle. Keep a digital or paper log of your business drives, as commuting between your home and place of work is not deductible. Consult your CPA to ensure you’re not missing any valuable business deductions.