One of the considerations of the future of the photo industry is Pension & Welfare for crew members. Historically, this hasn't been on the radar within the photo industry. States are now requiring and enforcing Pension & Welfare for photo productions. This tax liability used to just be reserved for productions like TV, Commercials, and feature films. Pension & Welfare is a private sector employee benefit plan. PWBA directly affects the livelihood of over 150 million people who participate in ERISA-covered plans, and protects the … [Read more...] about Pension and Welfare: Why you need to take notice?
With the end of the year upon us, it's time to start thinking about getting your records together for the tax man. In the USA, you can deduct certain business expenses to reduce your tax obligation. Camera gear comes to mind. This MAY be the excuse you've needed to get your spouse to go along with that new camera body or lens :) So how does it work? Let me be clear. I am not an accountant. I am going to tell you what my accountant tells me to do. Then you should check with your own. The gist of it is simple. Gear that lasts more than a year … [Read more...] about Maybe You Can Write Off That Camera