A chart of accounts can give you a clear picture of where your money is going, and will provide you with the necessary information to make informed business decisions in the future. Does a photographer need a chart of accounts? Yes, the…
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It can be a tough task finding the perfect accountant for your creative small business. Once you’ve narrowed down your list of providers, I recommend hopping on a quick 15 minute call to learn more about your accountant. During…
You may be able to deduct work-related education expenses paid during the year as an itemized deduction. To qualify for a deduction, your expenses must be for education that maintains or improves your job skills or your employer or a law requires to keep your salary, status, or job.
There is a common misconception that I’ve seen on the internet that says if you make under $600 (contracting, freelancing, etc.) – you do not need to report it to the IRS. This is false, there is no minimum amount…
If you have a home office and recently transitioned your business to an S-Corp, you’ll want to understand the steps you need to take in order to continue to take the home office deduction available to you. Here are the…
Thankfully the IRS has a process in place to assist you in getting on track. The absolute worst thing to you can do is ignore the IRS because you don’t have the money on hand. Contact your accountant and file your return by the deadline and pay as much as you can to avoid penalties and interest. Call the IRS to discuss your payment options at 1-800-829-1040. They offer customized payment plans for your individual needs.
I think it’s safe to say that I’m a big fan of making sure entrepreneurs and small business owners understand the financial side of their business. I spend a lot of time on client education in my blog, on my…
Finding the right mix between being a Creative and handling the money side of it all can seem daunting. Give me just a few minutes to paint a different picture for you. Hiring an accountant can be a huge game-changer…
For this interview I partnered with Idealust, a business coaching resource to help photographers and other creative entrepreneurs grow and scale their small businesses. Q: Creative people and solo-preneurs tend to be very good at the creative stuff, and less…
Self-employment taxes are one of the unglamorous, and let’s be honest, annoying parts of owning your own business. But I have good news for you! Once you get a system in place for taking care of them, it’s one less…