Taxes and Modeling
It’s a bit late or this topic however no less important. Tax time just came around again. If you model for a living or even part time your taxes can be a bit tricky. Any client you may have that pays you more than $600 is required to issue you a 1099 Misc Income. Unlike a W-2, there are no taxes taken out. You are responsible for paying the taxes on that income at the end of that fiscal year. This will add up along with that stack of 1099′s.
The upside of this is that your whole body is a write off. You can write off nails, hair, clothes, travel, photo printing, comp cards, just to name a few. Be sure to save your receipts or these things. Or you can always pay with a credit or debit card and save 12 months of statements. You can also donate clothes for a write off. In addition to that you can also work for a write off. Benefit fashion shows are my favorite way to have a nice deduction and have fun and get more work experience. If you work on a benefit project at least once a year it can help with taxes greatly. This year my charity project was “Postcards for the Troops” . How this works is a charity( like a 501 3 C) that uses your services will write you a tax deduction for the amount they would have paid you in cash. A win win situation the charity helps out those in need, you gain experience along with a tax offset from those 1099′s
