PRO TIP:
It may seem complex, but there are a few simple things you can do to save yourself some tax headaches.
Always have a separate business bank account! The last thing you want to be doing come tax time is trying to separate your grocery purchases from your parking fees for a shoot. Trust me, keep everything SEPARATE!
Those tax bills can add up quick! It's a good idea to set up a separate savings bank account that is specifically for taxes. Each month, move money over to that account so that you have a nice chunk ready to go come tax time. I like to transfer 15% of whatever my gross income was for that previous month.
Short and sweet for this week! As always, stay safe and be kind, xo |