Write-offs or Deductions
Determining write-offs or deductions for end of the year taxes are a bit tricky to decipher. Some expenses are permissible and some are not. The list of things you can write-off changes all the time. You cannot write-off anything you can use or wear every day of your life (i.e. clothing and makeup). If your travel is typically reimbursed for assignments, that cannot be written off either. However, if you use your car mainly for modeling jobs, you may be able to write-off your car, insurance, and maintenance. You should be able to write-off any model training, marketing, phone, a home office, office supplies, website fees, and other items that help you promote yourself as a model or freelancer. With the new tax law in place, it is important to find a good tax accountant that can help with your taxes. They should be able to tell you what items you can write-off. It is important for that accountant to know what you do for a living and that you’re contracted as 1099 MISC income, not W-2.