Hi everyone,
I am new to the forum and this is my first post. I earn part of my income by making "how-to" videos on YouTube. YouTube shares a percentage of the money it makes from advertisers based on the number of views my videos receive. On some of my videos I also earn money from affiliate sales by referring customers to purchase certain products.
So I'll cut right to the point. I want to make a video showing viewers how to install wood flooring. If I shoot the video while installing the flooring in my own home, can the materials be written off as a business expense?
I usually don't spend much, if anything, on materials for my videos so I haven't crossed this bridge until now. It's always nice to make upgrades around the house but this isn't a project I would move forward with if I wasn't shooting the video.
Knowing the answer to this question will help a lot for planning new video series this year. I've stayed away from a lot of niches with high earning potential because the cost of the video with materials factored in would be way too high for me. However, if these items could be considered a business expense, it would open up a lot of new opportunities and earning potential for me.
Thanks in advance for you time.
I am new to the forum and this is my first post. I earn part of my income by making "how-to" videos on YouTube. YouTube shares a percentage of the money it makes from advertisers based on the number of views my videos receive. On some of my videos I also earn money from affiliate sales by referring customers to purchase certain products.
So I'll cut right to the point. I want to make a video showing viewers how to install wood flooring. If I shoot the video while installing the flooring in my own home, can the materials be written off as a business expense?
I usually don't spend much, if anything, on materials for my videos so I haven't crossed this bridge until now. It's always nice to make upgrades around the house but this isn't a project I would move forward with if I wasn't shooting the video.
Knowing the answer to this question will help a lot for planning new video series this year. I've stayed away from a lot of niches with high earning potential because the cost of the video with materials factored in would be way too high for me. However, if these items could be considered a business expense, it would open up a lot of new opportunities and earning potential for me.
Thanks in advance for you time.