I want to build my presence as a travel and lifestyle creator but can’t afford a luxury travel lifestyle right now. Since I live in a tourist area, I’m considering filming local properties for future guests. I also want to film skincare products, but my shared bathroom isn’t suitable. Would filming in a hotel room be a tax write-off?
If the room or products are gifted, how does that affect taxes? If I rent a home (e.g., Airbnb), does it work the same as a hotel? I’m new to this and want to understand expenses and documentation beforehand.
Gifts, such as merchandise or hotel accommodations, are regarded as taxable income.
Business expenses are deductible from your income. Generally speaking, corporate travel expenses are deductible, but that’s not exactly what you’re saying. I would guess that you might deduct at least some of the cost, but for more information, you should speak with a CPA.
Probably not. If you don’t sleep in the room and only use it for a photoshoot, you could likely write it off, similar to renting any other space. However, if you stay overnight, it becomes personal use and can’t be considered a business expense. Renting a home or Airbnb follows the same rules.
The products are likely not deductible unless you can prove they were only used for the video and discarded afterward, as personal use disqualifies them. If anything is gifted, it’s considered income, and you must report it at fair market value. Content creator tax rules are strict due to business-personal overlap.
Perhaps if it’s for sleep research. Or maybe if you’re doing something for a haunted house like paranormal activity. Generally, unless that’s the stream’s primary topic, I’m not sure how well you could make the case for it in a regular stream. But that is conceivable.
Does the content you produce have a buyer? Assume that the costs are included in the cost of the goods sold. The IRS would not have a basis to scrutinize your spending if there was no deduction until someone paid for it.
To be clear, nothing is occurring just yet. So the initial round of articles is essentially portfolio building. I realize it might not be a write-off (which is bad, because other experts could be able to help with their portfolios).
I need to be able to match or surpass the quality of the body of work I presented to lifestyle, beauty, and travel brands for future work. Having to book a different hotel or being able to make use of a gifted room.
I know a photographer with a permanent studio and props, like murals and fabric, to change backgrounds as needed. Her lighting is always set up, and she only uses the space when she has clients, making it a good way to write off the studio.
Does the poster have experience in content creation or is this just a hopeful dream? Why does he think it will sell? Content is specific, and businesses typically hire creators to fulfill exact needs, not like selling general art. The poster should secure a paid job first, then rent space and buy supplies, making those expenses deductible.