ARE YOU WONDERING WHAT COSTS FROM YOUR BRAND PHOTOSHOOT YOU CAN DEDUCT FOR YOUR TAXES?
I know the lines for business expenses can be a little blurred sometimes so I went straight to a reliable source and asked my client and fellow Calgary small business owner My Cadle from Rooted Accounting to clear some things up when it comes to expenses for branding photoshoots!
FIRST AND FOREMOST MAKE SURE TO KEEP THOSE RECEIPTS AND IF YOU'RE NOT SURE ABOUT SOMETHING, REACH OUT TO YOUR ACCOUNTANT OR MY TO ENSURE THAT YOU'RE NOT MAKING ANY MISTAKES.
SO WHAT CAN YOU EXPENSE FOR YOU NEXT BRANDING PHOTOSHOOT?
1. It's me, hi, I'm the photographer, it's me! Your photographer costs: includes additional photos and any services they provide for you.
2. Your location rental.
3. Props that are purchased specifically for your shoot - Yes that means mugs, journals, cakes, flowers, printed materials, books, decor, plants, confetti, champagne, disco balls - you name it. It just has to relate to your brand and your shoot!
4. Aesthetics appointments like; hair, makeup, nails, any beauty related services that you are specifically booking for your brand photoshoot. Caveat is that it must be done specifically for the purpose of your photoshoot (so you can't expense your nail appointments every three weeks, just the one right before a photoshoot).
5. Transportation to and from your shoot (this goes with anything in business). If you are going somewhere for a business purpose you can record your mileage or if you’re getting a rideshare/cab etc. to your session you can expense that cost.
Now for the sad news... I'm sorry to be the one to break it to you but most outfits don't apply.
I feel ya, I was disappointed too! Outfits are a no since you will likely be using them for personal reasons post photoshoot. Your exceptions are rentals or one time use items (like the really sparkly blazer that you may only wear for photoshoots) or anything with your logo on it!
After you've logged all of your receipts, you can label all of these as a marketing/advertising expense.
If bookkeeping just ain't your jam then My is your gal! She specializes in small businesses accounting right here in Alberta and is a wealth of knowledge!
Need some help with keeping you business finances organized or with your tax return. My from Rooted Accounting offers :
Monthly bookkeeping
Catch up & clean up
Year-end sole proprietor taxes
Quickbooks training & System set up
1:1 consultations
You can find info on all of that and more on the Rooted Accounting website.
If you're not quite ready to commit, be sure to follow her on Instagram! She's always sharing valuable nuggets of information!
Here are more photos from My Cadle's most recent branding photoshoot!
