Summary: Income tax time is just around the corner . For photographers (and many other small business owners), thinking about income taxes can be super stressful. Is your photography business ready for filing federal and state income tax? Episode 4 features information on Federal and state income taxes and notes some important deductions and tax tidbits that can help both new businesses and existing businesses. Taxes don't have to be terrifying... In this session, I discuss: Setting up a tax file Keeping records and receipts Auto expenses Equipment purchases Entertainment and Meal expenses Travel expenses Home Office deduction Common deductions you should know about Hobby vs. Business Self-employment tax Estimated Quarterly taxes Items mentioned in this podcast include: Legal Zoom for LLC's and more Quickbooks Good book on deductions -- Deduct It! Lower Your Small Business Taxes Free mileage log excel templates Form 8829 Form 1040 ES Self Employment Resources on IRS website Note: Some of the links above are affiliate links. If you use an affiliate link to purchase a product or service, I may receive a small percentage as a commission. Thank you for your support, your contributions help keep the Nifty Knowledge Rocks content super valuable for your business. Thank you for checking out this podcast episode from Nifty Knowledge Rocks. If you haven't done so already please take a minute to leave a quick rating and review of the show on iTunes by clicking the link below. This would be super helpful for the show! Leave a review for the podcast!
