CHOSEN BY THOUSANDS OF MAKE-UP ARTISTS IN THE US.
We are expert in accounting for Freelance Make-Up Artists. With over 10 years experience, we have worked with some of the most complex accounting cases and are confident in giving Make-Up Artists a service which is both specialist and accurate.
Being a self-employed Make-Up Artist is competitive and time-consuming. The high demand for focus in order to remain up-to-date and on-top can make it hard- if not impossible- to stay on top of all of your financial obligations as well.
Bambridge Accountants specializes in providing a hands-on, stress-free tax service that allows Make-Up Artists professionals to focus on doing what they love while remaining in line with all tax obligations.
Expenses and deductions For Make-Up Artists
One of the first steps that we will take when looking at your accounts is ensuring that you are claiming absolutely every expense you are eligible to as a make-up artist.
Make-up artists HAVE A NUMBER OF TAX DEDUCTIONS THAT ARE UNIQUE TO ANY OTHER INDUSTRY.
Below we have put together a list of some of the expense you are entitled to as a make-up artist.
USE OF HOME AS AN OFFICE
As a make-up artist, it is not unusual to work with clients from your home or for other work-related activities. Use of home is a claimable expense that is all too often missed out or inaccurately claimed.
You are able to claim a percentage of your household bills for your use of home as an office. This includes expenses on bills such as your mortgage/rent, electricity, heating and wifi
Clothing can be an extremely useful expense to claim on your tax return. As a make-up artist, you almost definitely spend some of your income on work-related clothing, whether it be clothing for meetings or comfy shoes to help you stand all day behind while working behind the scenes.
Clothing is definitely one of the more obvious expenses to claim. However for a smooth and painless tax-filing season every year, it is vital that you are aware of your entitlements when claiming this expense. Many make-up artists are subject to penalties and hold-backs due to overclaiming.
WHY A MAKE-UP ARTISTS TAX IS NEVER STRAIGHT FORWARD
As a make-up artist, there are many facets to your income and expenditure, which differ incredibly from those of, say, a plumber or even a writer. This means filing tax returns for actors can be a laborious process.
'WHOLLY AND EXCLUSIVELY'
Legally, taxes claimed must be 'wholly and exclusively' for the purpose of work. However, the HMRC view make-up artists expenses as a very 'grey' area. For example, many of a make- up artists expenses will be part-work, part-personal related and therefore will need to be apportioned.
Ultimately, as with many other creative professionals, everything a make-up artist does can be related to their work. You have to know what is going on in the world of theatre and television and must subscribe to magazines, attend social gatherings, network events and not to mention trips to mention make-up shows. However, as with all matters tax, actors need to tread carefully when filing a tax return.
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