Let’s be honest: tracking business expenses probably wasn’t what inspired you to become a content creator. You’re already wearing a dozen hats—creator, editor, marketer—so the last thing you need is another headache when tax time rolls around. But whether you're earning your first few hundred dollars or scaling into six figures, managing your money isn’t optional—it’s essential. The good news? You don’t have to become a finance expert to stay organized and ahead.
With a few simple systems, you can keep your expenses in check, make tax season less stressful, and ensure you're claiming every deduction you deserve. Here’s how to track your business expenses as a content creator—without losing your mind in the process.
When you're self-employed, you're responsible for your own taxes, bookkeeping, and financial reporting. Every dollar you spend on your business—whether it’s a camera lens, editing software, or part of your phone bill—can potentially lower your taxable income. But the IRS won’t take your word for it. To deduct expenses, you need clean, accurate records that show what you spent, when, and why.
Proper expense tracking helps you maximize tax deductions, prepare accurate quarterly and annual tax filings, separate personal and business finances, and build a more stable, profitable business.
According to the IRS, business expenses must be both ordinary and necessary to qualify as deductions. Keeping a detailed log helps you back up your deductions if you're ever audited. IRS Publication 583 also outlines recordkeeping requirements for small businesses.
The first and most important thing you can do is open a dedicated business bank account. Even if you’re operating as a sole proprietor, having a separate account helps you clearly track which expenses are business-related. It also simplifies bookkeeping and protects your deductions.
If you’re using payment platforms like PayPal or Venmo, make sure you're using business accounts to ensure transactions are properly documented and categorized. Some platforms, like PayPal and Venmo, are required to issue Form 1099-K for business-related payments over $600 annually starting in tax year 2024, but only for payments received for goods or services—not personal transfers.
There’s no one-size-fits-all system, but consistency is key. Start by deciding whether you want to track manually or use software.
For manual tracking, a simple spreadsheet (like Google Sheets or Excel) can work well. You’ll want to record the date, vendor, amount, category, and any notes. Keep it updated regularly so you don’t fall behind.
For automation, accounting software like QuickBooks Self-Employed, FreshBooks, or Wave can categorize your expenses and generate reports. Many even help with estimated quarterly tax calculations. These platforms are especially helpful if you plan to scale your income or work with an accountant.
If you prefer mobile solutions, apps like Expensify, Shoeboxed, and Zoho Expense let you take photos of receipts and track mileage directly from your phone.
You don’t need to track every small personal item, but you should document any expense that directly supports your business. For content creators, this typically includes items like camera equipment, editing software, website and hosting fees, social media schedulers, lighting or studio gear, internet and phone bills (based on business-use percentage), office supplies, travel related to shoots or collaborations, and meals tied to business meetings—which are usually 50% deductible.
According to the IRS, the key is whether the expense is “ordinary and necessary” for your business. For a detailed explanation, refer to IRS Publication 535.
While the IRS generally does not require receipts for travel, gift, or transportation expenses under $75, they still require documentation that substantiates the amount, time, place, and business purpose of the expense. Digital receipts, bank statements, and photo scans are generally acceptable—as long as they’re legible and easy to retrieve. This guidance is laid out in IRS Publication 463, which covers travel, gift, and car expenses.
You can use cloud storage services like Google Drive, Dropbox, or OneDrive to store your receipts. Organize them by month or category. Many accounting apps allow you to attach receipts directly to your transaction records, simplifying things even more.
Make it a habit to check in with your finances once a week. Set aside 15 to 30 minutes at the same time each week—say, every Friday—to review your transactions, categorize new expenses, upload or organize receipts, and update your spreadsheet or accounting software.
A small weekly routine prevents everything from piling up and makes quarterly tax deadlines much easier to handle. Think of it as CEO time for your creative business.
Even if you’re doing your own expense tracking, working with a qualified tax advisor is one of the smartest moves you can make. A professional can help you identify deductible expenses you might be missing, ensure compliance with IRS rules, prepare accurate quarterly and annual filings, and plan proactively to reduce your overall tax liability.
Tax professionals who specialize in working with self-employed creatives understand the unique challenges of the creator economy. Whether you're filming YouTube tutorials, building a coaching business on Instagram, or running a paid newsletter, you need systems tailored to how you actually earn—and spend—your money.
Tracking your business expenses doesn’t have to feel overwhelming. With the right tools, a weekly routine, and a little expert support, you can stay organized and stress-free—even during tax season.
At Taxfluence, we help creators build strong financial foundations that fuel long-term success. Whether you're just starting or scaling your income, we’ll help you set up systems, stay compliant, and grow confidently.
Ready to take your agency to the next level? Book a free consultation with our experts and uncover strategies to scale effectively, onboard seamlessly, and maximize your team's potential.
