Chase Jarvis Chase Jarvis
  • Photos
  • Projects
  • About
  • Blog
  • Book
Chase Jarvis Chase Jarvis
  • Photos
  • Projects
  • About
  • Blog
  • Book

Tax Prep for Photographers & Filmmakers

—

reads

  • Total: 150
  • Facebook122
  • Twitter18
  • Pinterest9
  • Buffer1

Kate stepping in here to give you a bit of info from the business side of photography & filmmaking, this time about taxes.

Yes, it is that time of year again. If you’re in the ol’ USA and didn’t already know it, the due date for 2010 US Federal taxes has been extended to April 18, 2011.  That may be really great news to anyone scurrying around to finish up taxes at the last minute.  Now, you’ll have all weekend to wrap them up.

As you finalize your return, make sure that you’ve taken advantage of all possible tax deductible expenses, especially those that are a bit esoteric.  Since I am no tax professional, please do not consider this tax advice and check with a tax professional to learn about specific rules and exceptions that will affect your eligibility. However, this list may be a good way to start that conversation:

Tax deductible expenses specific to photographers and filmmakers:

Some deductions are very standard for all small businesses, including business insurance, office supplies, software costs, and even tax preparation fees.  In the world of photography and filmmaking, there are some expenses that are more specific to the industry.  To name a few…. 

Gear Related

  • Camera and lighting equipment
  • Memory cards, hard drives and digital storage
  • Film (if you are old school) and processing fees
  • Repairs and rentals

Business Related

  • Website costs
  • Professional memberships, such as ASMP or ASPP
  • Reference materials – books, magazines
  • Contest entry fees
  • Continuing education courses
  • Copyright registration fees

Production Costs

  • Contractors, including stylists, assistants, models, location scouts, editors
  • Wardrobe and props
  • Permits, location fees or studio rental fees
  • Travel expenses
  • Music licensing fees

Additionally, here are some helpful ideas regarding taxes and tax prep:

  • Think you are due a refund?  File as soon as possible.  The IRS does not pay interest on the money it owes you.
  • Some libraries offer FREE tax form preparation!  Make sure you have all of your paperwork together before you head in for assistance.  This help is usually offered on a first come, first served basis and is only good through the official tax due date.
  • Make use of the FREE resources available to you through the government:  IRS website,  call the IRS toll-free number for assistance or visit an IRS Taxpayer Assistance Center.
  • Just need more time to finish?  You can file for an extension but that does NOT give you any extension on paying your tax liability.  That means, you still need to estimate how much you owe and you MUST pay Uncle Sam by Monday.  Then, you can use your six-month extension to prepare your 2010 federal tax return.
  • Any 2010 contributions to retirement funds must be postmarked April 18… no extensions, so make your contributions if you are able.
  • Start organizing your 2011 tax paperwork NOW, and save yourself from any big headaches next year.

Good luck getting those tax returns out!  Here’s hoping that you have a big fat refund check heading your way this year!

Related Posts

10 Things Every Creative Person (That’s YOU) Must Learn
051026_ChaseJarvis_einstein_writing_vlrgwidec
Writing Makes Photographers More Creative — 5 Easy Tips
Daniel Pink: The Power of Regret
Chris Hutchins of Chase Jarvis LIVE
Chris Hutchins: All the Hacks to Maximize Your Life
Chris Burkard on Chase Jarvis LIVE
The Wayward Path of Photographer Chris Burkard
Make Your Message Heard with Victoria Wellman

38 replies on:
Tax Prep for Photographers & Filmmakers

Comments navigation

Previous
Next
  1. aqualusso.mywapblog.com says:
    October 9, 2014 at 3:41 pm

    Studied this incredible website and decided to buy a steam shower and never ever gazed back again, really good information on this website cannot thank you enough

  2. line says:
    August 6, 2014 at 11:17 pm

    Excellent blog!. I really like your article, it’s very useful for me. I have tried to find information about the articles you write. But it’s not as detailed as this. I really like your writing style is very easy to understand. I’ll bookmark your blog and visit here frequently. I will certainly share it and recommend to my friends. I’m sure they’ll be benefit from this site. Thank you.

  3. Janet Mcivor says:
    August 1, 2014 at 10:26 pm

    Nice blog!. I like the your article it’s very helpful for me. I’ll bookmark for your blog and visit here frequently. I’ll certainly share it and recommend to my friends. I’m sure they’ll be benefit from this web site.

  4. Read More Here says:
    June 23, 2014 at 2:49 am

    I do accept as true with all of the ideas you have offered for your post. They are very convincing and can certainly work. Still, the posts are too brief for novices. Could you please prolong them a little from next time? Thank you for the post.

  5. Get More Info says:
    June 12, 2014 at 1:26 am

    I want to express my appreciation to the writer just for bailing me out of this type of setting. After looking through the world wide web and getting views that were not beneficial, I assumed my entire life was well over. Existing without the presence of solutions to the difficulties you have solved all through your entire write-up is a crucial case, and ones that might have negatively damaged my entire career if I hadn’t come across your blog. Your own personal mastery and kindness in dealing with all areas was tremendous. I don’t know what I would’ve done if I had not discovered such a step like this. I can now look forward to my future. Thanks for your time very much for this reliable and results-oriented help. I will not hesitate to refer your web site to anyone who requires assistance about this issue.

Comments navigation

Previous
Next

Comments are closed.

BUY NEVER PLAY IT SAFE NOW!

Get weekly, curated access to the best of everything I do.

Popular Posts

20240425_CJLIVE_StephanieHarrison_Canva_YT_cStephanie Harrison: How Hacking Happiness (Actually) Works
A person standing on a rocky outcrop, surrounded by dense evergreen forest. In the background, there are snow-capped mountains under a cloudy sky. Overlaid on the image, on the left side, there is text in bold yellow and black that reads: "THE CHASE JARVIS LIVE SHOW". The text is stacked with "THE" on top, followed by "CHASE JARVIS", and then "LIVE SHOW" at the bottom.Silent Saboteur: Why You Keep Breaking Your Own Promises
Illustration of a person standing at the edge of a high cliff, gazing out over distant mountains under an orange sky, symbolizing contemplation, choice, and risk.How ‘Playing It Safe’ Almost Cost Me Everything (Don’t Settle!)
20250305_CJLIVE_MelissaArnotReid_Thumb_16x9_v2.5What If Your Hardest Climb Is Within?
20250327_CJLIVE_B&H_Syndicate_Thumb_16x9_v2.5How Sharing Your Work Can Change Lives Including Your Own

Daily Creative Projects

© 2024 Chase Jarvis. All rights reserved.

My New Book Is Here!

This book is a powerful compass for embracing risk and creativity in all aspects of life. Chase shows us how to step out of our comfort zones and become who we were meant to be.

SOPHIA AMORUSO
Serial Entreprenuer
NYT Best Selling Author of Girlboss

BUY NOW!

My New Book Is Here!

This book is a powerful compass for embracing risk and creativity in all aspects of life. Chase shows us how to step out of our comfort zones and become who we were meant to be.

SOPHIA AMORUSO
Serial Entreprenuer
NYT Best Selling Author of Girlboss

BUY NOW!