US Taxes
- Started
- Last post
- 10 Responses
- n8w
Does anyone have a good list of categories prepared by an accountant of things you can write off as a freelance illustrator / designer for the United States?
example
advertising
materials
transportation
etc
- pinkfloyd0
Rent (The percentage of space your using to freelance)
Electric bill
Phone bill
Internet bill
Dinner w/ client bill
Office supplies
Art supplies
Web hosting
Books
Anything used related to your businessI asked if I could write off a parket ticket or dress shoes, but for things like that you're reaching too far.
- If you're a fulltime freelancer, make sure you do your taxes quarterlypinkfloyd
- cause its a time saver?akrokdesign
- yeah I didn't get the quarterly thing eitherMiguex
- is that some sort of requirement outside california?Miguex
- because you will be penalized if you don't, ie they'll charge you more moneyformed
- I don't remember why, but I was told to file estimated taxes quarterly http://www.cookco.us…pinkfloyd
- never did that. but might be good.akrokdesign
- Miguex0
you can write off time spent on self promo stuff at your hourly rate
BAM!
- kgvs720
Don't know how much you make, but in certain cases you can deduct student loan interest. http://www.irs.gov/publications/…
- organicgrid0
Don't forget about your automobile, car insurance, gas, repairs, and any travel expenses...
- ghandolf0
Typical "Schedule C" deductions for own business
http://theschedulecsite.com/99-s…
- fyoucher10
Outsourcing
Tax Payments (Fed/State)
IRA Payments
Payments towards educationIf you work from your house...(Util's etc based on your home office square footage)
Community Association Fees
Mortgage / Rent
Property Taxes
Homeowners Insurance
Home Security paymentsUtils:
Electric and Gas
Water
SewerIf you use your car for work travel....
Car loan payments
Car insurance
Parking
Car Repairs, Inspections, misc
Car rentals
EZ Pass
Gas
Hotel
Hookers (Business Entertainment, yeah?)
Dining (Business Entertainment expenses)Healthcare payments
Prescriptions
Dr./Hospital visits/Co-pays
ChildcareCell phone
Ofice phone
Internet / FaxSoftware, Print, Website, and Misc Marketing Materials
Hardware
Books / DVD Purchases / Magazines / Subscriptions (Related to your business)
Education
Postage and Shipping
Office Furniture
Office SuppliesTax Preparation
- chuparosa0
Kinda related but you might want to consider becoming a member of a museum. Usually memberships are 100% deductible. You get to enjoy the museum as a member and you get a good write off too.
- nicepinkfloyd
- definitely do thisrandommail
- "enjoy the museum"drgs
- akrokdesign0
also if you give to a charity, ex. world wildlife fund.
that's a tax write off. think it's 60%. not sure. i give anyway.
- randommail0
annual industry association membership fees like AIGA, ADC, etc.
- randommail0
'bad debt' expenses are deductible.
http://en.wikipedia.org/wiki/Bad…
A bad debt is an amount that is written off by the business as a loss to the business and classified as an expense because the debt owed to the business is unable to be collected, and all reasonable efforts have been exhausted to collect the amount owed. This usually occurs when the debtor has declared bankruptcy or the cost of pursuing further action in an attempt to collect the debt exceeds the debt itself.