The New York Times published an interesting article about how the Internal Revenue Service views artists and write offs and is called:
Tax Court Ruling is Seen as a Victory for Artists
Written by Randy Kennedy.
"If you say you are an artist, but you make little money from selling
your art, can your work be considered a profession in the eyes of the
Internal Revenue Service?"
Although we are not in the fine art world for the most part, many of us dabble and do gallery shows, etc.
I do not know any freelancer with a business plan, but they still make a living and that can vary wildly from year to year. You can kind of plan but there are a LOT of variables.
The upshot of the ruling is that you can make very little money and still be considered a professional artist.