Interested in Being a Model and Lowering Your Taxes? Read This Article
It’s the perfect dream job; Traveling the world, being paid to do nothing but stand there and have your picture taken, whether the latest fashions. And while it can seem like an unattainable goal, the fact that you are looking at models in the magazines is proof that it is achievable, you just have to start small.
One of the biggest challenges which a model needs to overcome is the business side of what they do. After all, if you are a model then you learned skills on how to pose for pictures and look your best, not how to do your own taxes.
However, if you are looking to start out as a model, this is the type of information that you need to know.
Photographs and Portfolios
Every model knows that building their portfolio is the most expensive part of starting out as a model. Not the clothes, not the makeup, it’s the photos. The reason why they are so expensive is that they are your first the only chance to wow a model selection panel. However, this cost does not’ have to be a personal one.
The costs of operating a business, such as shoes are potential deductions that every model can look to include in their business tax return. If you are claiming, it’s important that you remember that your vacation snaps or any person photograph sessions which you cannot be included. Only services which go towards your portfolio can be claimed.
Of course, when it comes to claiming any type of business expense or deduction, it’s always to utilize services like the Groupon Coupons page for Turbotax to take advantage of professional knowledge and advice.
Haircare and Styling
Despite what it might look like, that just-out-of-bed look takes a long time to create and often a number of different products to get it there. As you can imagine, not only do all of these products clutter up your bathroom space but they can also put a pretty hefty dent in your budget.
If you are using these products to prepare for a photoshoot or for an interview then you may be able to include these on your tax return. While it may seem strange, as you are using the product in order to sell the product, yourself as a model, the items can be included.
Of course, it isn’t always about how you look, it’s also about how you walk. Serious models employ serious modeling and catwalk coaches. And these serious professionals cost serious money. And while you will have to pay for their services up front, if they are provided to you for the purpose of improving your our modeling skills then you can consider deducting them on your business tax return.
While you may be disappointed to find that you can’t claim all of your makeup and hair expense on your tax, it is important to realize and understand what you can claim, and legally claim it to give your modeling career the best chance of getting off the ground and out of Instagram.