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a great self-employment tax deduction is travel expenses perhaps you need to go to hawaii right to scope out some potential real estate investments well the flight lodging transportation and even food would all be deductible if of course the sole purpose of the trip is for business you can mix personal and business trips together but there should be a clear distinction on which days were for business and which days were for personal and that way only the business days are considered and deducted again these expenses can be written off on schedule c