Tax Preparation Tips for Photographers!
If you’re anything like me, I always dreaded April 15. I’m not a math person and the thought of numbers require an automatic cupcake and Dr. Pepper just to get through the speadsheet. Luckily, now I have an awesome Certified Public Accountant now who has made my tax life much easier.
But if you’re stuck and running out of time, here are a few resources to help you get your numbers in order to make the April 15, 2019 deadline.
Run a Profit and Loss Report
If you’re using a client management system like PicSpotr or QuickBooks Simple Start, simply go to Insights or Reports and boom! The amount your earned from your business and expenses will automatically appear on the screen if you’ve been keeping track of your expenses via the software.
2. Review or create your mileage Log
3. Calculate your home office deductions
“If you use part of your home for business, you may be able to deduct expenses for the business use of your home. The home office deduction is available for homeowners and renters.” - IRS Website Check out this super helpful blog post on how to calculate your home office deduction.
Blog post educational content by Prudence Rufus.
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