Handyman expense tracking | What can a handyman deduct? (Pay less handyman business taxes)

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Handyman expense tracking | What can a handyman deduct? (Pay less taxes). Handyman taxes can be very overwhelming but by organizing your expenses and setting up tracking for your deductions you can start winning at the tax game and ultimately pay less taxes as a handyman. Expense tracking as a handyman doesn't have to be complicated, with technology and a little organization you can start to get a handle on handyman business taxes and expenses.
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Video chapters:
00:00 Handyman Expense Tracking Introduction
Handyman taxes can be overwhelming, but organizing expenses helps
Understanding deductions is important
01:23 Handyman Expense Tracking - Documentation
Document large purchases specific to a job
Take pictures of receipts and materials for future reference
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03:59 Handyman Expense Tracking - Receipts & Apps
Handyman can use company cam to organize receipts and job photos
Home Depot Pro app allows saving receipts connected to specific projects
06:05 Handyman Expense Tracking - Mileage Tracking
Company cam can be used to track mileage with photo receipts
GPS trackers can also be used to record mileage

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Опубликовано:

9 июл 2024

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Комментарии : 12

@Tablesaw818 3 месяца назад

Good info Allen. I’m so blessed to be married to a CPA and it makes my professional life so much easier.

@handymanjourney 3 месяца назад

that is awesome! You are blessed!

@JohnnyWojtkowski 3 месяца назад

Will look into her, thanks Allen!!

@handymanjourney 3 месяца назад

Your so welcome

@user27278 3 месяца назад

Good video Allen ❤

@handymanjourney 3 месяца назад

Thanks brother! I appreciate you being here!💪

@TylerFoster3810 3 месяца назад

Awesome Video Allan keep up the hard work!

@handymanjourney 3 месяца назад

Thanks bro, I am glad this is helpful

@JohnnyMacAndCheese 3 месяца назад

When I do a job and send the invoice on Markate I send just the total amount and material is included in that price plus tax. Example, I charge $500 for a job and it was $200 in materials, I really only clear $300. Am I setting myself up for failure come yearly taxes?

@handymanjourney 3 месяца назад

Not necessarily setting yourself up for failure as long as you document the materials that you use elsewhere, I personally document all of my materials on my estimates and invoices just so it is there and I know what is spent but you can always document this information in your accounting software just like quickbooks. When the expenses come in you can classify those as materials so on your profit and loss statement it shows up there, does that make sense?