As a commercial painter, the quality of your work speaks for itself. But do you put the same attention to detail to your taxes? Too often, painters neglect to take all the write-offs that their business is entitled to, gumming up their savings and drying out future opportunities.
That’s why Keeper has compiled a list of the best write-offs for commercial painters, so that your return can gleam as bright as vibrantly as the houses you spruce up. Simply mix up the right write-offs for your business, and you’re good to go!
If you drive for work ...
Driving around the city, whether to a job location, to pick up paint supplies, or to meet with a client, might not exactly qualify as painting the town red.But the good news is that you can write off a portion of your car expenses, relevant to the amount you use it for work.
Parking for a meeting downtown, or any other work trip, is tax-deductible!
A toll while driving to or from a work destination is tax-deductible!
Car purchase & depreciation
If you buy a new car, you can write off part of the cost every year for five years.
Flashlights, tire iron, duct tape, and other tools you may need in your vehicle are deductible.
Car insurance & registration
Car insurance monthly fees, registration, even roadside assistance are partially deductible.
Oil changes, repairs, and regular checkups are all tax-deductible if you drive for work.
If you discuss work at a restaurant ...
Grabbing dinner with a friend to decompress after a shift doesn't count as a business meal.
However, meeting a contractor, accountant, vendor, client, or fellow painter to talk about work does count — and the cost is considered a write-off.
If you discuss work with a coworker, mentor, client, or prospective client, it's a write-off!
If you leave town for work ...
Networking is a big part of how freelancers line up their work.
So if you head out of town to attend an industry conference or meet with an out-of-town client, keep in mind that you can deduct your travel expenses from your taxes.
Planes, trains, and car rentals are all work-related travel costs that can be written off.
When you travel for work, lodging expenses such as hotel rooms or Airbnb are write offs.
When you're traveling for work, all meals are tax-deductible. Even takeout!
If you work from home ...
If you manage finances and paperwork, client development, or industry research from home, go ahead and write off a portion of your home office expenses.
A desk, chairs, lamps, and other home office necessities are all tax write-offs.
You can write off up to $2,500 for individual repairs to your property.
Gotta keep the lights on in your home office! A portion of your electricity bill counts.
Whether it's rental or homeowners insurance, you can write off a portion through your home office deduction.
It'd be hard to work in an office without running water, huh? You water bill counts.
Your Comcast bill is a tax write-off. You need internet to do your job!