Expense tracking: What you need to know to get started

By
Katie Rothstein
September 23, 2021
Interviewer:
Interviewee:
By
Katie Rothstein
September 23, 2021
Interviewee:
Interviewer:
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Expense tracking: What you need to know to get started

Did you know that you can actually save thousands of dollars every year by simply keeping track of business expenses? 

As a creator, you are entitled to tax deductions on your expenses. That means anything you use to help run your business–including things like a portion of the bill for the phone you use to create content and post on social media, desks and chairs for your home office, online subscription services, even gas and Ubers––and more. 

When you subtract the price of these expenses from your total income, you are left with your taxable income. Because subtracting these expenses lowers your taxable income, you will end up paying less in taxes in the process. Put simply: More money stays in your pocket. 

Expense tracking should be your best friend, not your worst enemy, and Lumanu’s got you covered when it comes to staying organized and maximizing the money you keep.That’s why we created a streamlined feature just for tracking your expenses. 

Ditch the envelope full of receipts that you don’t even tackle until tax season. Start logging your business expenses every day on Lumanu––it’s a best practice for creators that will meaningfully impact the piggy bank. 

All you have to do is log in to get started.