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Sennals
New Member

Sole Proprietor and Emoloyed Expenses

So I have a registered business name as a sole proprietor and have made a small amount of money doing photography based work. 

 

However I also have other employment where I make more taxable income. 

 

I have expenses like camera gear, travel, print costs etc I'd like to claim as expenses. I'm just wondering if it would make a difference in my overall tax payment? With the photography stuff alone I am nowhere near close enough to be paying tax Soley on that income. Is it beneficial to still claim expenses to reduce my overall tax payment when both jobs are combined? 

1 Reply

Sole Proprietor and Emoloyed Expenses

You don't have to claim employment or self-employment expenses if you don't want to. But even if it makes a small difference, why not? And in the case of self-employment expenses and employment work from home expenses, you can carry unused expenses forward.