Make-up artist expenses and deductions
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 artists.
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
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 are subject to penalties and hold-backs due to over claiming.
TRAVEL TICKETS
Part of the nature of being a make-up artist is moving from location to locations, working behind the scenes. All travel that is work-related is claimable against tax. Therefore flights, train-tickets and bus-rides to events are claimable.
It is important to note that if your travel was partly personal-related, i.e. 5 days of your travel were taken as holiday, you must apportion the expense.
Work-related petrol and other motor costs are also claimable.
EQUIPMENT
Perhaps on of the most obvious expenses to claim as a make-up artist is work-related equipment i.e. your make-up! This expense can, however, be stretched much further. For example, the equipment need to take a picture of your work for your portfolio.
Make sure you are identifying all work-related expenses on equipment. Equipment is defined as items that you intend to use for a prolonged period. Your do not include this in your business expenses but instead in an AIA (Annual Investment Allowance), which works to reduce the tax you pay.
ADVERTISING
Getting your name seen and heard is a major part of being a successful make-up artist. Any methods you use to promote yourself in an effort to get ahead in your career is claimable. Whether you pay to be mentioned in an article or directory, run an ad campaign on your make-up blog or any other forms of promotion- it's claimable.
Contact us to find out the many more expenses, deductions and reliefs you are entitled to as a make up artist
Just some of Our Clients Amazing work