If you’re running your photography business from home, you might be wondering: Is my home office deductible? The answer could help you save big on your taxes! In my latest YouTube video, I break down what qualifies as a home office, what you can deduct, and how you can take full advantage of the home office deduction criteria as a small business owner.
Whether you’re working from a cozy corner in your living room or a dedicated room for editing and client calls, you might be eligible for the home office deduction. But the IRS has specific rules about what qualifies—like needing to use your space exclusively and regularly for business.
In this video, I’ll also walk you through the two methods to calculate your deduction: the Simplified Method, which allows you to easily deduct $5 per square foot, or the Regular Method, where you can deduct a percentage of your home expenses. I’ll help you figure out which one is best for you, plus share some tips to ensure you’re meeting the home office deduction criteria.
If you’re a photographer looking to lower your taxable income and keep more of your earnings, this video is for you! Click below to watch the full breakdown and make sure you’re taking advantage of every tax-saving opportunity available.
XOXO ~ Heather Marie
Few things make me more excited than getting the chance to help another photographer prepare for an easier tax season. So, don’t forget to snag the 15 Business Tax Category Breakdowns.
Let’s Prep for Tax Season – Together
Keep more of what you make inside of your business with these 5 key deductions for photographers. I’m sharing all inside of my free class — Maximizing Your Tax Deductions as a Photographer!
Make tracking your numbers easy with my Tax Prep Spreadsheet and ensure that tax season is a breeze.
Transform your passion into a thriving business and unlock success for your photography business with my free guide to setting goals for the first year of your photography business.
Mastering your business taxes starts with understanding the different tax categories. Grab my free tax category guide to take the first step towards stress-free taxes today.
Want taxes to suck less? Learn how to correctly prepare your taxes for your accountant with the Photographer Tax Course – and say hello to a confident and calm tax season!
Don’t know what you don’t know? You’re just 90 minutes from a custom tax prep system with my 1:1 Tax Prep Mentoring sessions!
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