- Turbo tax business expense categories full#
- Turbo tax business expense categories software#
- Turbo tax business expense categories plus#
- Turbo tax business expense categories professional#
If you have a business-only office: Office décor, services for the office (deliveries, security system, etc.)Įxp: Rental – Equipment Rental Expenses / Rent or Lease (Line 20a)
Turbo tax business expense categories professional#
Interest on business credit cards, business loans, etc.Įxp: Legal & Professional Legal and Professional Services (Line 17)Īccountanting or bookkeeping fees, business legal fees, consulting fees, professional association or membership dues, etc. Liability insurance, equipment insurance, etc. Your bookkeeping program should help do the math for you. If greater than $2500, the deduction is spread out over the life of the equipment (i.e. If each item costs under $2500, you can choose to deduct the entire amount in the current year.
that will be used for more than one year. This makes it easier to see who has or hasn’t earned $600+ to determine who I need to send a 1099-NEC Form.Ĭameras, lenses, camera bags, computers, laptops, printers, office furniture, etc. I like to make a different category in my bookkeeping program for each second shooter/independent contractor I hire. Second shooters, assistants, VA’s, and other independent contractors. personal use (typically ~50%).Įxp: Second Shooters Contractor Labor (Line 11) NOTE: Meals cannot be what the IRS considers “lavish or extravagant.”Įxp: Affiliate & Referral Commissions and Fees (Line 10)Īffiliate payments you made, referral fees you paid, etc.Įxp: Communication Communication / Utilities (Line 25)Įxpenses from a separate phone line for your business or a percentage of your cell phone bill based upon the percentage of time you use your phone for business vs.
Turbo tax business expense categories full#
Record the full amount of the transaction – your bookkeeping program should automatically do the math for you.) Record the full amount of the transaction – your bookkeeping program should automatically do the math for you.)Įxp: Meals – Clients/Colleagues Meals / Meals and Entertainment (Line 24b)Ĭost of hosting meals for potential clients, meals during meetings or outings with business colleagues (networking meetings, trips, etc.). Meals purchased while traveling for business out of town.
Turbo tax business expense categories plus#
while you’re away.Įxp: Travel – Transportation Business Travel / Travel (Line 24a)īus, train, or airline tickets (+ any luggage fees) for traveling out of town for business, plus rental car expenses, taxi or Uber rides, etc.Įxp: Meals – Travel Meals / Meals and Entertainment (Line 24b)
costs while traveling out of town for business, plus any internet access fees, etc. Website/blog hosting & design, domain name registration, business cards, logo design, promotional materials, catalogs, brochures, email marketing subscription (Convertkit, Mailchimp, etc.), SEO analysis, marketing, Facebook/Instagram/Google ads, screenprinting or embroidering your logo onto items, etc.Įxp: Travel – Lodging Business Travel / Travel (Line 24a)
Turbo tax business expense categories software#
This will make it so easy to just plug in those numbers into your tax prep software (or give to your accountant) to file your taxes quickly & easily! Here’s a cheat sheet of some typical expenses you can write off as a photographer and how I recommend you categorize the transactions in your bookkeeping program to align with the IRS Schedule C. The extended tax deadline is less than a month away! My biggest tip for making tax prep painless is to make sure your tax deductions are categorized correctly.
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