Top 2 Missed Business Tax Deductions

Every year at tax time, I find many photographers overlook these two super easy deductions!

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#1 MILEAGE

Yup, currently in 2024, you can deduct 67 cents per mile for Business mileage. Click HERE to find current rates.

What is Business Mileage?

Driving to the post office to check your business post office box or to ship something business-related. Mileage to the office supply store to pick up office supplies, mileage to deposit money in your business account, mileage to meet a client.… you get the point… Any mile you drive to do something related to your business is business mileage you can deduct! It is that easy.

The tricky part…

Tracking it! So many people say every January 1st that they are going to start today and track but then quickly start forgetting to jot down the mileage. Before you know it, you haven’t logged miles in six months.

My advice to you

Download MileIQ to your phone! It is amazing and pays for itself in just a few drives. It automatically senses when you're driving; all you do is swipe left for personal and right for business. I have tried many mileage apps over the years this one takes the cake!

QuickBooks Online has a built-in mileage tracker as well.

There is more!

Yes, not only can you deduct business mileage, but you can also deduct mileage for CHARITY, MEDICAL & MOVING! (you can check the rates HERE) Rules for the other mileage types will be in future blog posts.

#2 HOME OFFICE DEDUCTION

Do you work from home? If so, chances are you have a space you use as an “office” space in your home. Did you know you can deduct a % of your rent/mortgage interest, utilities, and repairs!?

More Details

I have even more details regarding home office deduction in another post HERE

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