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
QuickBooks and Shoeboxed for expense tracking: QuickBooks | Shoeboxed