35 Tax Deductions for Creative Business Owners
35 Tax Deductions for Creative Business Owners
- Website
- Social media ad
- Business Cards
- Signs for trade or craft shows
- Business license
- Permits
- Materials ( yarn, fabrics, Wax, T-shirts, vinyl, beads, etc)
- Canva subscription
- Photo shop subscription
- Business loan interest
- Equipment rental
- Space rental ( booth)
- insurance
- Legal consultation
- Accounting
- Continued Education
- Books for your business
- Office Supplies
- Postage
- Shipping Supplies
- Phone
- Internet
- Travel Expenses
- Wages paid to others
- credit card processing fees
- Listing fees
- Auto Expenses
- Banking fees
- Repairs to office space
- Business association membership dues
- Computer
- Gift for Customers (up to $25.00)
- Health insurance
- Software
- Business use of home (Utilities, property tax, insurance, mortgage interest)
The important thing to ask yourself with any expense is.... Is this expense ordinary and necessary for your business ? If the answer is YES you can deduct it, however if the answer is no to either set it to the side to ask your accountant to be sure.
Need help tracking your income and expense Grab the expense tracker for creative Business owners HERE