You are allowed to write off the cost of business photoshoots and headshots on your taxes!
After speaking with an accounting & tax professional here are some things that I learned that helps my clients.
Business branding and photography that goes into advertising such as; headshots for your team, pictures of your establish mean, pictures of your products, and more substantially benefit your business by connecting your potential and ideal audience directly to your brand through visual imagery. In fact, a lack of good your imagery can dramatically and negatively affect your business.
Any competition that you have that has made time to brand appropriately and take the necessary photos to showcase their business has a higher advantage than you. Therefore, branding is a way to stand out from your competition. Brand photography can be used in many places such a social media, marketing materials, newsletters, your website, and more. The best part about the fact that you need this service anyway is that it can be considered a deductible expense that lowers your taxable income.
When the IRS looks at your expenses like your branding session, what they see is an expense session that will be used for advertising and they know that this expense is incurred to bring awareness to your brand in order to attract future clients and make business better.
Props and items that have your company logo on them can be use as a deductible business expense. Most things that are specifically for a shoot that help you communicate your brand to your ideal client can the written off as a business expense. *double check with your accountant or tax representative for specifics* one thing that cannot be used as a deductible is clothing. Unless it has your company logo on it and it's something that you cannot regularly wear anything else which is hard to prove.
Some companies require more photos more often, and you are able to book reasonable amount of brand shoots but will be considered deductible because they are specifically for your branding sessions and attracting business.
I hope that this helps, and encourages you to book a session to get your branding started.
If you're in need of branding photography head on over to my portfolio to view my work or send me a message to book a session today!
Lola