Bookkeeping and Accounting for Voice-Over Artists

As a voice-over artist, there are several industry-specific expenses that can be claimed as tax deductions. These include:

• Professional Fees: This could include fees paid to managers, agents, etc.
• Promotional Costs: Expenses incurred on promotional activities, like your website, business cards, demos, etc. could be deductible.
• Training and Education: Fees paid for voice lessons, acting classes, and coaching can be claimed as deductions.
• Equipment: Costs of purchase, repair and maintenance of equipment like microphones, headphones, mixers, soundproofing, software, etc. can be deducted.
• Home Office: If you maintain a home office specifically for your voice-over work, you might be eligible for home office deductions.
• Travel Expenses: If your work requires you to travel, then costs associated with traveling, accommodation, meals, etc. may be claimed.

Remember, to claim these deductions, you need to maintain accurate and detailed records of all your expenses.

Managing income from multiple sources and different clients can initially appear complex, but with proper organization it can be handled with ease. Here are some tips:

<ul><li>Maintain separate records for each income source. This simplifies your financial tracking and can provide insights into the profitability of each income source.</li><li>Always issue invoices for all business transactions, to maintain accurate financial statements and for tax purposes.</li><li>Utilize online accounting software. It greatly simplifies the process of managing multiple income sources, automating many tasks, monitoring invoices and payments, and preparing financial statements.</li><li>Consult with a bookkeeper or accountant regularly. Their expert advice can ensure that you're managing your multiple incomes in the most effective way.</li></ul>

At Bench Accounting, our team of professional bookkeepers can help you manage your incomes from different sources and clients. Our expertise ensures that your financial records are accurate, up-to-date, and prepared for tax time.

As a self-employed voice-over artist, you're considered a small business entity. This means that there are various financial regulations you need to be aware of. For instance, you need to understand tax obligations including income tax, estimated taxes, self-employment tax, and possibly sales tax, depending on the nature of your clients and contracts. Record-keeping and deductions related to your business expenses are other critical areas. Laws may vary based on your location, so it can be beneficial to hire a bookkeeper familiar with regulations pertinent to your specific industry and region. Remember to follow copyright and royalty laws when replicating different voices in your work. Additionally, you may need to familiarize yourself with any rules relating to the union for voice-over artists, if you are a member.

Any changes in financial regulations should be communicated to you by the financial authority in your country, but ultimately it's your responsibility to make sure you stay compliant. It can help to work with a professional bookkeeper who stays up-to-date with financial regulations and can make sure your financial standing remains in good shape.

Nope! All bookkeeping is completed in-house.

Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.

We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.