The three things we’ll be going over today are creating a usable bookkeeping system, what some commonly forgotten tax deductions are, and an easy tax time checklist so you can make sure you’ve got everything you need or your accountant…
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Can I deduct my personal cell phone on my small business taxes? Yes, in fact this is a deduction that a lot of people forget to take on their small business taxes. To take this deduction, you’ll calculate the business…
A commonly forgotten deduction on small business taxes is the auto expense deduction. I think a big reason this one is left off of tax returns is that people forget to track their mileage throughout the year so they don’t…
The home office deduction used to really freak people out. There was a rumor that if you reported a home office on your taxes, it would be a red flag for the IRS to audit you. I have good news!…
What do you do if you didn’t keep any receipts for the year? Answer: Subscribe to my YouTube channel! Know Your Worth® – The small business owners’ simple guide to bookkeeping and taxes. If you’re looking for a little kickstart…
Thanks to the internet, I’m able to work with creatives all over the US on their taxes and bookkeeping. About 6 years ago, I started to prepare for making the leap to owning my own business because I couldn’t imagine…
“Ah, yes… working for myself! No one constantly telling me what to do. No more accounting department making out my checks. Wait… That means that I have to pay myself and pay my own taxes?” Take a deep breath, my…
Can I deduct Starbucks as a business expense? Answer: You cannot deduct your Starbucks, that is a personal expense. If you use your business bank account or credit card to purchase your drink, you’ll need to code it as a…
Can I deduct clothing that’s used by my clients in photoshoots? Answer: You cannot deduct the clothing that you (the photographer) wears, however if you buy or rent clothing for a special shoot, you can deduct those “props” as a…
Can I deduct donations of my time to charitable organizations? Answer: No, you cannot deduct the value of your time or services. If you are donating your time to a nonprofit, you can deduct you mileage and any out of…