When you own your own business, you need to cut costs wherever possible. One easy way to make sure that you are taking full advantage of the cost-cutting techniques available to you is to know which expenses you can write off as business expenses on your taxes. 

Generally speaking, you can write off any goods or services that are used primarily for your business. Specifically, make sure that you are writing off the following three expenses:

Travel

For many photographers, travel is a major aspect of the job. To run a successful professional photography business, you have to be willing to go where the clients are. This is especially true for many specialty photographers, such as wedding photographers. Whenever you travel for a professional photoshoot, be sure to keep track of all of your expenses for tax purposes. 

That includes airfare, gas, hotel accommodations, rental cars, and food for the duration of the trip. What you can’t write off as tax deductions are your entertainment expenses and any time you spend beyond what is necessary for the job. 

Equipment

All of your photography equipment is a valid business expense and can be written off as a tax deduction. Whenever you purchase equipment, no matter how big or how small it may be, keep the receipt so that you can claim it when you do your tax return. And as a photographer, you know that there is a lot of necessary equipment–and that equipment is anything but cheap. 

For example, backdrops, light reflectors, continuous lighting, and lens filters are vital for portrait photographers. Neutral density filters are essential for landscaping photography. You should never skimp on your equipment if you want to run a successful photography business.

Car Usage

Many photographers use their personal vehicle to go to and from jobs. If this is the case for you, be sure to write off a portion of your car expenses for tax purposes. Of course, only the costs accrued through business use can be deducted, but that can include a percentage of your gas and maintenance. You can generally deduct 56 cents for each mile that you drive for business, so keep track of those miles!

Businesses are expensive to run, so be sure to take advantage of all of those expenses in your tax write-offs. Any business expense can be written off, including phone, internet, bank and credit card fees, charitable donations, and even classes, webinars, seminars, and workshops related to your business. Just be sure to keep those receipts, in case you are audited. 

Did you enjoy reading this article? Here’s more to read. How to Master Your Finances as an Entrepreneur