Is my time working on my business a tax deduction?

I charge 0/hour for a photo shoot. I did a photo shoot with models to increase my portfolio without charging them. Is the time I spent during the sh...


I charge 0/hour for a photo shoot. I did a photo shoot with models to increase my portfolio without charging them. Is the time I spent during the shoot or editing the photos a tax deduction?

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Posted in Tax Deductions Q & A

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2 Responses to “Is my time working on my business a tax deduction?”

  1. stephenweinstein says:
    February 24, 2010 at 9:47 pm

    No. No deduction for your time is allowed, ever. Not as a business expense, not time that you donate to charity, not time to get medical care, nothing.

  2. Gem says:
    February 24, 2010 at 9:47 pm

    To claim a deduction, you must claim income.

    So, to claim your $300 an hour, you first would have to claim the $300 as income to your company.

    Your actual outlays of $$ (film, developing, printing) would be expensed off to Advertising & Promotions.

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