US Tax Deductions
- Started
- Last post
- 12 Responses
- CincodeMayo
Anyone know if I can write off fonts and stock photos I've purchased under deductions? What deduction would it go under?
- formed0
Why not? Business expense. Computer assets, software, etc., is what I stick it under (just ask your accountant).
- 20020
Yes - if you have 1099
Business expense - software
- ********0
You can definitely write them off as expenses. I'm not exactly where they should go. Advertising, software, education?
- yurimon0
If its part of a project then expenses as part of that project.
- Gnash0
software is usually depreciated. fonts as well unless purchased for a specific client and recouped
- CincodeMayo0
Still haven't figured this out and I'm doing my own taxes so any help is much appreciated.
TurboTax support was useless. Trying to figure out what section purchased fonts go under (under Deductions). There's a bunch of options (like advertising, supplies, etc.) – would it go under supplies? Somewhere else?
If it matters, I'm employed full-time but do freelance stuff on the side. So I'd only be deducting the ones purchased specifically for freelance use.
- bklyndroobeki0
Yes you can.
Get a good CPA will ya!
- ********0
deadline almost approaching
- bainbridge1
You can write off movie tickets as visual "research" and a car if it's essential for work so why not fonts?
- you cable, internet, phone, shoes, computer, books, magazines, entertainment (drinks, dinner, movie etc)2002
- cbass992
shit, write off your dog as your security system to protect your business. this includes all dog food, medical bills and toys to keep your dog on his toes and on top of his game.
- reanimate1
I don't think it's a critical issue whether you put it under advertising or supplies, you can probably make an argument for both. Just make sure to save your receipts (which isn't really an issue these days since everything is electronic).
- randommail0
PRO TIP:
Get an actual BUSINESS credit card JUST for business expenses.
They will automatically categorize each purchase, so your itemized expense report at the end of the year is practically done.This, along with any 1099s or checks you've made out to sub-contractors, vendors, etc., and you're practically 99% done.