Accountant for Photographers

As a photographer, you have a keen eye for spotting the finer details that are often overlooked, and accounting is certainly no exception. While the thought of paperwork may seem tedious, especially when your day-to-day activities are much more exciting, keeping on top of your finances is essential to ensure your business runs smoothly. The filing of your taxes, alongside the declaration of your income, is vital to the success of your photography business.

Why use Dead Simple Accounting

Dead Simple Accounting takes the hassle out of finances leaving you to focus on what you do best. We can guide you through the entire process, right from completing your self-assessment return to filing them with HMRC. We also offer forecasting services that enable you to meet your goals, risk-free. Whether you’re looking to start your own e-commerce business or form a limited company, we can offer advice on what’s right for you every step of the way.

But don’t just take our word for it, we’ll leave the talking to our five-star ratings across Google and Facebook.

What Expenses can Photographers Claim?

Capturing images, editing them, developing them and handing them over to a happy client can be a time consuming cycle, but it’s important to ensure your accounting paperwork to doesn’t fall by the wayside.

It is important to keep an accurate record of your expenses right through the tax year. The more detailed and accurate the expenses, the more you can claim.  The following are a few of the expenses that you may be able to claim as a photographer.

  • Travel Expenses
    • Maintenance, as well as car mileage, can be claimed as a deductible travel expense. Other expenses that can be claimed include:
      • Auto repairs
      • Airfare
      • Bus or train tickets
      • Portions of a new car purchase
  • Capital Expenses
    • Equipment that is used for more than a year can be claimed under capital expense. Some of the commonly claimed pieces of equipment include:
      • Tripods
      • Cameras
      • Lenses
      • Lightboxes
      • Hard drives
      • Lighting
      • Filters
  • Venue Expenses
    • Photographers that rent spaces for photo shoots or equipment storage can claim it as a tax deduction. These expenses include:
      • Electricity costs
      • Storage space for shooting
      • Storage space for props
  • Educational Expenses
    • Post-secondary photography classes should be claimed as education tax credits rather than a business expense. These include:
      • Software licenses
      • Trade magazine subscriptions
      • Specialised courses
      • Membership fees for business associations
  • Home Office Tax Deductions
    • Photographers that have set up a home office for photo editing are eligible for home office deductions. The following are expenses that can be claimed:
      • Rent
      • Utilities
      • Renters or homeowners insurance
      • Mortgage interest
      • Internet services

Need Some Further Help?

If you have any further questions or would us to help with your tax needs, get in touch with us today.

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