📣This is for you if you are a self-employed business owner (that includes you, freelancer!) ⬇️

My business just bought me something cool.

The reason I’m sharing this is because, as a business owner, you should think about how you can KEEP as much money as you earn as possible. Which means you’ll want to lessen the amount that you give away in the form of taxes.

This is important because business owners are unfortunately taxed so heavily. It's honestly really frustrating.

Personally, I used to set aside 20% every month into a separate savings account for taxes and every year it would all go straight to the government 😭 Instead, I've started to get strategic about how I spend money as a business.

I’ve learned to start asking the question, “Could this be considered a business expense?” 🤔 before ANY expense I’m already planning to make…household or business. Yes, I said household too. My business is run out of my house, and anywhere I am.

So what did my business buy me this time? A phone.

It was something I was going to purchase anyway, because my old one finally gave out, and since I use my phone for work purposes too, it was a business expense.

So first, just think of expenses differently and make sure you ask yourself that question above.

And second, you have to make sure you’re properly tracking your expenses and receipts! 

✨If you’re a freelancer, I've created a yearly expense tracking spreadsheet that also includes a list of items that can be counted as business expenses in my Freelancer Templates, making this process much easier.

➡️ If you’d like the templates, check them out over here »  FREELANCER TEMPLATES

I hope this is helpful! 🤎

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PS- I’m definitely not a CPA and highly recommend you talk to one who understands small business taxes. I’m simply sharing from my experience over the years.