Freelance Writer Taxes in Wyoming - 2025 Guide

Updated for 2025 (Filing 2024 Taxes)

Is Freelance Writer income taxable in Wyoming?

Yes, your income as a freelance writer is taxable, but the situation in Wyoming is simpler than in most states. While Wyoming doesn't have a state income tax, you are still responsible for federal income tax and self-employment tax on your earnings. You'll report your freelance writing income and expenses on Schedule C (Profit or Loss From Business), which is filed with your Form 1040. This schedule determines your net profit (income minus expenses), which is then added to your other income to calculate your adjusted gross income (AGI).

Wyoming Specifics: Because Wyoming has no state income tax, you won’t need to file a state income tax return. This simplifies your tax filing process considerably. However, it doesn't exempt you from federal tax obligations. You are still required to pay federal income tax and self-employment tax on your profits.

Top Tax Write-offs for Freelance Writers

As a freelance writer, you can significantly reduce your tax liability by taking advantage of eligible deductions. Here are some key write-offs:

• Home Office Deduction: If you use a portion of your home exclusively and regularly for your writing business, you can deduct expenses related to that space. This includes a percentage of your mortgage interest or rent, utilities, property taxes, and homeowner's insurance. The IRS offers a simplified method based on square footage, or you can calculate actual expenses.
• Software & Subscriptions: Costs for writing software (like Scrivener, Grammarly), editing tools, plagiarism checkers, and subscriptions to research databases are deductible.
• Business Mileage: The 2024 federal standard mileage rate is 67 cents per mile for business use of your vehicle. Keep a detailed log of all business-related trips (e.g., client meetings, research trips) to accurately calculate your deduction. You can also deduct parking fees and tolls.
• Equipment: Computers, printers, cameras (if used for content creation), and other equipment used for your writing business are deductible. You may be able to deduct the full cost in the year of purchase (Section 179 deduction) or depreciate the cost over several years.

The 15.3% Self-Employment Tax Surprise

Many freelancers are surprised to learn about self-employment tax. When you work for an employer, they pay half of your Social Security and Medicare taxes. As a freelancer, you're both the employer and the employee, so you're responsible for the full 15.3% (12.4% for Social Security and 2.9% for Medicare). This tax applies to your net earnings from Schedule C that exceed $400.

You'll calculate this tax on Schedule SE (Self-Employment Tax). The good news is that you can deduct one-half of your self-employment tax from your adjusted gross income (AGI) on Form 1040, which helps reduce your overall income tax liability.

Closing Tip for Wyoming Residents

As a Wyoming resident, you benefit from the lack of state income tax. However, diligent record-keeping is crucial to maximize your federal deductions and minimize your tax bill. Consider using accounting software or working with a tax professional to ensure you're taking advantage of all available tax benefits. Don't wait until tax season to organize your finances – consistent tracking throughout the year will make filing much easier and potentially save you money.