Tuesday, February 10th, 2009...8:20 pm

Common Tax Deductions for Wedding Photographers

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Caveat; I’m not an accountant or a certified CPA; Be sure to consult an accountant to review local, municipal, and state laws governing your venue where your business transactions occur.

  1. Camera Equipment: One of the larger costs of doing business in Wedding Photography. If you have camera equipment you can amortize deductions over a period of time.
  2. Business Use of Vehicles: Keep track of the mileage, insurance and costs of owning a vehicle. It’s best if you keep a log to keep track of the miles traveled for business purposes.
  3. Charities: If you donate or spend money toward a charity you can deduct any contributions
  4. Interest on debts: If you have a credit card and carry a balance you are able to deduct any interest that you paid to the credit card companies.
  5. Meals & Entertainment: Frequently if you take out your potential bride and grooms you can deduct 50% of the bill that you paid for their meal or entertainment.
  6. Membership fees to professional memberships: Memberships to professional organizations like PPA, WPPI ASMP, DWF etc.
  7. Educational /Seminars: If you frequent or travel to las vegas for conventions like WPPI (Wedding and portrait Photographers International); or to phoenix for imaging usa; you can deduct the costs related to the trip: Meals, hotel stay, car rental, gas, flight, Seminar costs.
  8. Business Organization: Any business formation costs within the first year of business formation: Accountant, Lawyer fees
  9. Tax Services/Software: If you purchase or consult an individual to prepare or help produce your tax documents
  10. Rent: Any part of your office that you pay rent for in the year of Tax reporting is deductable. One of the many  exceptions is that if you deduct rent that is deemed excessive and is owned by a relative.

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2 Comments

  • Weddings on the Strand
    February 12th, 2009 at 7:57 am

    You’ve got a very comprehensive blog happening here. Thanks for all the helpful info.

  • Debby
    April 5th, 2009 at 8:31 am

    I am new here, and beginning my photography career. Can someone answer my following question?

    How come in the Form 4652 instruction, it says “Photographic, phonographic,….used exclusively in a taxpayer’s trade or business or at the taxpayer’s regular business establishment” is an exception that can not be listed as 179 property for depreciation?
    (see page 2 of the 4562 instruction)

    And, computer or peripheral equipment is also not allowed.

    With this, I simply can not deduct the depreciation of my cameras and computers used for my photography business.

    Your advice will be greatly appreciated!

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