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| p.1 #3 · How strict are Canon CPS rules? |
I bought my equipment for use in my business and the IRS rules allow me to deduct the purchases as a qualified business expense.
Canon says you must be a "full time imaging professional" which I am not. My equipment inventory qualifies me as a "Gold" member but I am hesitant to apply because of not being a full time photographer.
Anyone else had experience with this situation?
I opened this thread with the thought in my head of another jerk trying to get perks for his hobby. Seems I pre judged.
Full-time imaging professional is a subjective term. At least in my mind. See I maintain a secondary source of income, but I consider my business full-time. How is this defined? Is it only time that your shutter is clicked? Say I'm shooting an event at 1/1000 and I shoot 1000 images. Am I only a photographer for 1 second? What about getting there, getting set up, getting tore down, getting out, going home, unloading, editing, burning, backing up, packaging, driving to the post to mail the product, follow up, invoicing et cetera. Aren't they consuming my time for business?
So what I'm saying is this, I think most people who are operating a business legitimately will be okay...because its more time than you think. Heck I can spend 20 minutes in the phone answering questions. Or at the bookstore and researching photography.
With all of that said, your relationship with the IRS is your own, but a word of caution...if this is a hobby and you're just writing off your equipment with no desire to show a profit, after three years straight of losses it opens you up to an audit where they will deem you a hobby and you'll have to pay back the "losses" and no longer be able to take a loss. This isn't to scare you, it's just to put it out there. The IRS expects you to lose money for a few years getting started, but if you're not showing growth the chances of an audit increase.