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- #GIMP FLYER TEMPLATE TAX PREPARATION HOW TO#
- #GIMP FLYER TEMPLATE TAX PREPARATION SOFTWARE#
- #GIMP FLYER TEMPLATE TAX PREPARATION PROFESSIONAL#
Memberships: If you belong to associations that help you do your job, like the AIGA (American Institute of Graphic Arts), you can deduct your membership fees.ġ5.
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Subscriptions: You can write-off the cost of magazines, journals, newsletters, and other subscriptions as long as they are useful for your graphic design business.ġ4. This includes education subscriptions such as or Skillshare.ġ3.
#GIMP FLYER TEMPLATE TAX PREPARATION PROFESSIONAL#
Professional development: When you invest in networking and educational opportunities like online courses and webinars, you can deduct related signup fees. Tolls: Any toll fees you pay while working are tax deductible as long as they’re not already being reimbursed.ġ2. Unfortunately, this doesn’t apply to parking tickets or traffic violations, so drive safely!ġ1. Parking: Anytime you have to pay for parking while you’re working, save your receipts these expenses are deductible. Advertising: When you invest in promoting your business, keep track of how much you spend! Online ads, signs, print ads, radio ads, postcards, and more are all deductible. Good news: you can still write these off even if you take the simplified home office deduction!ĩ.
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Office Supplies: Items that you buy for everyday office use, like pens, paper, postage, and notepads, are all deductible. Printing and Copying: Keep your receipt anytime you print or copy work-related materials like marketing flyers, brochures, and office records. Business Cards: Designing and printing business cards is a deductible marketing expense.ħ. The best way to do this is to calculate what percentage of your calls were work-related and then claim that percentage of your bill.Ħ.
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If you also use your phone for personal reasons, you should only deduct the portion used for business. Cell Phone Bills: Do you use your phone exclusively for business? You can fully deduct related expenses (including the phone purchase and monthly bills). Physical Supplies: Don’t forget to deduct the cost of any physical tools that help you complete your design projects.ĥ. Subscriptions to fonts, graphics, and templatesĤ.
#GIMP FLYER TEMPLATE TAX PREPARATION SOFTWARE#
Software and Other Subscriptions: You can write-off any software or subscriptions you use to run your business, like:Īdobe Creative Cloud, GIMP, Inkscape, etc.Ĭlient-sharing software, like Contentshare or Invision You’ll divide the total cost of these expenses by the percentage of your home that’s used for business.ģ. Indirect expenses, like your mortgage, insurance, and utilities. The actual expense method: Add up the expenditures related to your home office, including:ĭirect expenses, such as supplies for and repairs to your office. The simplified option: Multiply the square footage of your office (up to 300 square feet) by the standard rate of $5. Have a home office? You can write it off with either: Home Office: The IRS keeps a close eye on this deduction, so make sure you only write off your office if it’s a dedicated home workspace used solely and regularly for your graphic design business. If you choose to take the standard mileage deduction, keep in mind that you cannot deduct individual vehicle expenses like gas, oil changes, car repairs, and car insurance.Ģ. Mileage: Keep track of all your business-related trips! While there are lots of ways to do this (like taking odometer readings before and after trips), the easiest way is to use an app like Stride that records mileage while you drive:īetween your home office and meetings (this does not apply if you have a permanent place of work to which you must commute) Here are the 15 graphic designer tax deductions you should keep track of throughout the year:ġ.
#GIMP FLYER TEMPLATE TAX PREPARATION HOW TO#
If you didn’t track your expenses last year, don’t worry our guide shows you how to retroactively find deductible expenses.īecause there’s always a chance you may be audited, save your business receipts for at least three years after you file your taxes. That’s why it’s so important to track your expenses during the year. The IRS requires documentation of any business expense you deduct. The expenses we list below fall into this category. When it comes to deducting business expenses, there are certain regulations you need to follow:īusiness expenses must be both ordinary (commonly accepted in your trade) and necessary (helpful and appropriate for your business).