DISCLAIMER: This information does not constitute financial or tax advice. Work with a tax or financial advisor for specific recommendations. We include a couple recommendations at the end of this email but note that these are GA specific advisors.
First of all, as per the disclaimer, I am not a financial or tax advisor. I just wanted to give you some ideas of things to make note of and keep the receipt to give to your accountant.
Also…double check with your accountant regarding the home studio/home office. Our accountant said we’re not able to write that off anymore but we were able to set it up so that Heidi Rew Productions and Mike Stoudt Productions rents space from Mike and Heidi and pays a fair and reasonable rent for the space used for our VO/On-Camera businesses.
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| Expense Category | Examples / Details | Caveats & Notes |
| Home Studio / Home Office | If you have a dedicated space used regularly and exclusively for work (recording, editing, voiceover tasks): portion of rent, mortgage interest, utilities (electricity, Internet, heating/cooling), insurance, repairs, depreciation on the portion used. | The space must be used exclusively for business, and calculation must be reasonable. Mixed use (personal + business) requires allocation. |
| Equipment & Supplies | Microphones, audio interfaces, headphones, mixers, computers, software (DAWs, plugins, editing tools), cables, stands, pop filters, recording booths or room treatment (acoustic panels), replacement parts, general office supplies (paper, ink, etc.). | These often can be depreciated or expensed under Section 179 / bonus depreciation (depending on cost) in the year purchased. |
| Software & Subscriptios | DAW subscriptions, cloud storage, audio hosting, sample libraries, software licenses, etc. | Only the portion used for business is deductible. |
| Professional Development / Training | Voice coaching, dialect coaching, classes, workshops, seminars, books, online courses directly tied to your craft. theshowbizaccountant.com+2Voices.com+2 | |
| Marketing & Promotion | Website design & hosting, domain fees, demo production, demo reels, promotional materials, business cards, graphic design, social media ads, video or audio production for promotional content. Voices.com+3Jackson Hewitt+3Backstage+3 | |
| Agent / Manager / Commission Fees | Commissions or fees you pay to agents, managers, or booking services. Jackson Hewitt+2Backstage+2 | |
| Union Dues / Memberships / Licensing | Dues, guild or union fees, professional association memberships, business licenses or permits. Jackson Hewitt+2Voices.com+2 | |
| Travel & Transportation | Travel to auditions, sessions, meetings, conferences: airfare, lodging, car rental, taxis, rideshares, parking, tolls, mileage (if using your own car). | Meals while traveling are often limited to 50% deduction (for business meals). Use IRS standard mileage rate or actual expenses. |
| Meals & Entertainment | Business meals with agents, clients, collaborators, or while traveling on business. | The deduction is limited (often to 50%). The meal must have a business purpose (discussing your work). |
| Insurance, Legal & Accounting | Professional liability insurance, business insurance, legal fees, fees for accountants, tax prep, business consulting. | |
| Office / Administrative Expenses | Phone, Internet, postage, mailing, office supplies, printing, storage, cloud services, backup systems. | |
| Depreciation / Amortization | For larger purchases with multi-year use, you may need to depreciate or amortize over several years, rather than expense in one year. | |
| Miscellaneous / Other | Bank fees, business credit card fees, trade publications, subscriptions, business gifts (within limits), continuing education materials. |
If you’re looking for someone to help with taxes or bookkeeping, here are people we recommend –
DIANE NOEL – works with Smith and Stillwell (entertainment industry payroll processing and casting company) and does a lot of actor’s taxes every year.
noelaccounting@comcast.net
FRAN GREEN – Fran was my bookkeeper for a while and she was wonderful! I would still be with her but our accountant started offering bookkeeping services. I highly recommend her. The company she works for also offers tax services but I’ve never worked with them, so I can’t 100% vouch.
fran@pwbtaxaccountingsolutions.com
EXECUTIVE MONEY MANAGERS – This is the company we use for bookkeeping, taxes, investing and financial planning. They may take a minute to get back to you but they are so nice, knowledgeable and explain things so well (and patiently).
https://executivemoneymanagers.com/
