Episode Title: Navigating Taxes as a Photographer

Guest: Siobhan Coyne, Siobhan Coyne Photography, Galway, Ireland

We Discuss:

• Siobhan's transition from accountant to full-time family photographer

• The financial challenges photographers face when starting out

• Pricing structures in Ireland vs. the U.S.

• The importance of setting up a separate business bank account

• Tracking expenses and tax write-offs

• The role of bookkeepers and accountants in a photography business

• Best practices for managing taxes as a photographer

• Siobhan's upcoming course on financial management for photographers

• Why mini sessions can be a valuable part of a sustainable photography business

TLDR:

• Siobhan transitioned from a 16-year career in accounting to photography after realizing she wanted more flexibility and fulfillment.

• Photographers often undervalue their work; pricing structures in Ireland lag behind the U.S.

• A separate business bank account is essential to manage cash flow and taxes effectively.

• Tracking expenses in real-time prevents surprises and allows for better financial planning.

• Tax deductions include equipment, software, education, travel, and business-related home expenses.

• Hiring an accountant or bookkeeper can alleviate stress and ensure financial accuracy.

• Mini sessions, when structured properly, can be a profitable and strategic offer.

• Siobhan is launching a financial course tailored for photographers to simplify tax and bookkeeping challenges.

Resources:

• Learn more about Siobhan’s work: Instagram: @siobhancoynephotography

• Download Siobhan’s Photo Biz Health Check checklist:

• Follow Pamela Brady’s documentary photography

• Check out Chloe Ramirez on Instagram

• QuickBooks and Shoeboxed for expense tracking: QuickBooks | Shoeboxed