Archive for December 2010

22 Dec, 2010 | Posted by: photosource






The RollBack

Coming up in 2011, we will introduce "The RollBack" where we feature Q&A's from years past that are still favorites today.

This week we feature Kate's question.


"Can I claim any part of my travel expenses -- particularly air fare or cost of the package tour -- as a business expense?" -Kate


Posted by: Kate (IP Logged)
Date: April 6, 2004 10:45PM


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Hello All,

Thanks for a great service!

It's tax time. I'm mainly a writer, but have been sharpening my photo skills so that I can offer packages. In 2003 I traveled abroad to Cambodia and Myanmar for about 6 weeks. It was a group tour with a Buddhist teacher, but I used the opportunity to shoot about 45 rolls of film. I did not have any assignments and have not sold any images or text yet, but I am working on it -- I am currently working to get the photos on my website, so that I can market them more easily. And I fully intend to take advantage of these images and the experience as a source of income.

My question is, can I claim any part of my travel expenses -- particularly air fare or cost of the package tour -- as a business expense?

Any suggestions would be much appreciated!

Thanks,

Kate

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Re: int'l travel expenses as tax deductions?
Posted by: Mikael Karlsson (IP Logged)
Date: April 7, 2004 12:17AM

Kate:

It sounds like you could really benefit from our 2004 Tax Tips Guide for Stock Photographers! To order your copy for only $19.95 and to find more info please follow this link PhotoSource Tax Tips Guide

All PhotoSource International products come with full satisfaction guaranteed.

Mikael

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Re: int'l travel expenses as tax deductions?
Posted by: Will (IP Logged)
Date: April 7, 2004 10:32PM

I'm sure the PhotoSource Tax Guide is a great resource but my CPA is worth every penny I pay him (at about 10x the price). In addtion to the PSI tax guide I would recommend finding a good CPA and play 20 questions with him or her. We all have unique tax situations.

Will

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Re: int'l travel expenses as tax deductions?
Posted by: Kate (IP Logged)
Date: April 8, 2004 08:41AM

Hi Will,

Thanks for the suggestion. My case is very specific and very obscure -- a single, self-employed foreigner in Japan, working full time as a freelance writer/photographer. I would need a CPA familiar with both Japanese and US tax laws, and there are surprisingly few of those. Moreover, I would hazard that none of them know about how to handle foreign freelancers, as freelancers don't really exist here as an established professional category.

Finally, I sometimes have to be resourceful to maintain a particular visa status, and am not sure I could ask a professional CPA to support me with that. So you can see, it is rather complicated. Everyone is talking about globalization and the global economy, but in terms of freelance writers/photographers, there is still much ground to be forged, I can tell you.

More simply, I am not sure that I make enough to justify a CPA -- they start at about US$250 here, and I am guessing that all the above would cost a fair bit more. Would that be standard for the US?

Thanks,

Kate

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Re: int'l travel expenses as tax deductions?
Posted by: Brian Yarvin (IP Logged)
Date: April 8, 2004 10:04AM

Kate:

In New York City, a speicalized CPA that does taxes for intelctual property clients will charge at least eight hundred dollars. Some of these firms even have a partner who just deals with stock photography and they are likely to be able to answer your question for a price. (by consulting with a Japanese tax accountant and billing you for it)

I know for a fact that there are hundreds, if not thousands of independent stock photographers in Japan - it is a thriving and unique market. How do they generally set up their businesses?

My Webpage

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Re: int'l travel expenses as tax deductions?
Posted by: Will (IP Logged)
Date: April 8, 2004 06:50PM

Kate,
Yes you certainly have a unique situation(s), as did I. When working with my small business consultant one of the most important things he advised me to do was consulting a CPA to get set up. I had a CPA do my taxes and consult with me for a cost of $225. He saved me about $2500 and answered all my questions. Again, your situation is unique so you might call around to see if any in your area specialize in your needs. There are numerous consultants and others who work overseas and must have similar tax questions as yours. If your just traveling to other countries, as opposed to taking up residence and doing business there, it just sounds like a travel expense to me. Best of luck with your taxes and writing/photography.
Will

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Re: int'l travel expenses as tax deductions?
Posted by: Kate (IP Logged)
Date: March 31, 2005 03:08AM

Hello KrackerBarrel,

Just thought I would update this tax question, since it is that time of year.

After receiving input from KrackerBarrel photographers and reading Julian Block's tax guide for photographers (which did not address my particular scenario), I crossed my fingers and wrote off half the expenses for my trips as business expenses. The IRS accepted that.

Thanks again for your suggestions. Hope this is helpful for others who need to mix work with non-work scenarios.

Best regards,

Kate
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To review the original request:
Ref: http://board.photosource.com/read.php?1,6685
Int'l travel expenses as tax deductions?


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TO ASK A QUESTION ABOUT MARKETING YOUR PHOTOS (NO NEED TO REGISTER): www.photosource.com/board

01 Dec, 2010 | Posted by: psnotes







One rule for survival as a stock photographer:
ALWAYS CARRY A SECOND CAMERA


James Cook points this out in the Kracker Barrel.

But you might say, “I’m not a pro. I’m just breaking in to the field.”
Nevertheless, if you enjoy your involvement in stock photography, your next purchase should be a second 'back-up' camera. Look for a good deal on Ebay or local classifieds.
Always carry a second camera with you in your camera bag.


A second comment:

Where is your 911 for camera repair?

If you’re expecting the manufacturer or reseller to take care of fixing your camera, DON’T. The downtime could cost to a missed photo or worse, a missed assignment if your income depends on quick service to your photobuyers.

Go here for the discussion:
http://board.photosource.com/read.php?1,10668