Tax Resources

It’s that time of year again… yay! Although I am not an accountant (please see an actual accountant for specific guidance), I’d figure I’d pass along this helpful document as we all start to file our 2024 taxes…

Tax Deductions for Fashion Models, Entertainers & Related Fields

-Pulled directly from the KVLSM Certified Public Accountants and Advisors website.

One piece of advice that I’ve learned over the years… make sure to double check the income listed on your 1099 from your agent(s). Sometimes I have been confused as to why my calculated income does not match what my agent has recorded. It could be the difference between net and gross income. For example, say a job pays $1000 and your agent’s fee is 10%. Is your agent reporting your gross income of $1000 or your net income of $900? It’s important you know which one your agent is recording so you can file correctly. Make sure it makes sense :)

For more guidance, contact your accountant.