1099-NEC (New in 2020)

1099-NEC (New in 2020)

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...
Receipts 101

Receipts 101

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...
Charitable Donations 101

Charitable Donations 101

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...
Estimated Tax Payments

Estimated Tax Payments

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...
Business Tax 101

Business Tax 101

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...

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