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Can I Deduct Lighting Equipment From Taxes?
Here’s what the CPA’s have to say
According to the IRS, you can deduct any expense that is related to your profession as long as it is considered common and helps you in conducting your business.
But what counts as a legitimate deduction?
Here, Doreen is a photographer and can write off the cost of lighting equipment as supplies from her taxes. Since good lighting is an ordinary and necessary expense in her line of business.
Moreover, based on her profession she can also deduct the other related expenses as supplies from her taxes.
Can I deduct Lighting Equipment from taxes?
The IRS allows you to write off certain equipment you use as a business expense. So, if you wish to deduct your lighting equipment from your taxes, you can do so as long as you use it specifically for business.
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Can you claim Lighting Equipment as a business expense?
If you're someone who requires good lighting equipment for business purposes, you may be entitled to claim a tax deduction for the costs incurred. Some common freelance professions where you can claim lighting equipment as a deduction include:
- Online Teachers
- Social Media Influencers
- Youtuber
- Photographers
- Film Makers
- Videographers
Who all can claim Lighting Equipment as a tax deduction?
To deduct any expense, it must be directly related to your business. If you're a photographer who requires good lighting to click pictures of their subject, then you can deduct the cost of your lighting equipment.
Online Teacher:
If you are an online tutor or teacher, you can deduct the cost of lighting equipment from your taxes. Similarly, you can also deduct the cost of education props, stationery, and electronics from your taxes.
Social Media Influencers:
As a social media influencer, you are required to post content regularly on your social media platform and for the purpose of clicking good quality pictures, you need to have good lighting. So you can deduct the cost of lighting equipment from your taxes.
Photographer:
As a professional photographer, you need a good camera, tripod, editing software, and lighting equipment. You can deduct the cost of all these items as supplies from your taxes.
Youtuber:
As a Youtuber, you can deduct the cost of lighting and other videography equipment from your taxes since they are considered necessary expenses in your line of business.
Click here to find out how FlyFin can help you to take this as a deduction.
Frequently asked questions
FAQs
Can a fitness influencer deduct the cost of lighting equipment?
Can a journalist deduct the cost of lighting equipment?
What other expenses can photographers deduct as supplies?
What’s FlyFin?
FlyFin caters to the tax needs of freelancers, gig workers, independent contractors and sole proprietors.
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