Interior design portfolio deductions

Forum|Forum|2 years ago
January 4, 2024
2 replies
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I started an interior design business about a year and a half ago. While I have had a steady flow of work since starting, I really want to hone in on my design aesthetic and have photographed work of my design work that focuses on the type of design work I do best. Most of my projects have forced me to do work that isn’t really my vibe, or where I feel my design strengths lie.

In an effort to provide the kind of content I want to portray to potential clients, I am working on furnishing my own (new build) house to photograph and put on my website, social media platforms, etc.

Are any of these expenses I am putting toward my own home in an effort to build my portfolio the way I want to be represented to potential clients tax deductible?

Not A Product Question

Anonymous_

Level 15

You may be able to deduct certain expenses directly related to your business, but deducting (expensing or other type of cost recovery) an item or items that will also be used for personal purposes is not a good idea.

Opus 17

Level 15

You can certainly deduct the cost of the photography sessions.

If you bought items specifically for design photography, and then sold them, you could deduct the difference as a business expense; or if you rented items and returned them after the photo session, the rental costs are deductible. (For example, you rent furnishings to design your house in 5 different styles, to show your versatility. That could be an interesting portfolio.)

If you qualify for a home office deduction, and bought items specifically for use in the home office to show off your style, those items would be allowable. Converting them later to purely personal use might be tricky.

But I agree that deducting the cost of what is really a personal item with a very small business purpose is not really allowed.