Read These Related Posts: Independent contractors 101 1099-NEC (New in 2020) Photographers are often in business as contractors for others or have contractors working for them. Working with contractors brings a whole new level of compliance. You must have a completed...
As we coast into tax season, it’s essential to understand everything you have to track and file as a photographer. One of these many items is what you pay contractors. Read these related posts: Independent Contractor 101 Pay contractors this way to relieve...
So, what’s the deal with receipts? Let’s dig into everything you need to know about your business receipts and documentation. The IRS requires you to keep all documentation to support what you filed on your personal and business tax return. If the IRS ever...
How and when you can deduct charitable donations is widely misunderstood. TWO important thing to understand is.. 1. CHARITABLE DONATIONS ARE NOT BUSINESS EXPENSES. 2. CHARITABLE DONATIONS MUST BE MADE TO QUALIFIED DESIGNATED NON PROFIT ORGANIZATIONS. This blog post...
What the heck are estimated tax payments? Did you know that you should be making those? It’s not a choice. It’s a requirement. There are hefty penalties and fines for those under-paid and non-paid estimated tax payments. Today, I’m going to walk you...
Did you know that you really don’t pay “business taxes”, that all taxes that you have as a trademasterneur are most likely personal? Today, I’m going to dive in and explain this to you so that you have a better understanding of what’s...
