CLAIM YOUR TAX WRITE-OFFS FOR 2022
2022 is coming to a close – and whether that’s a “hallelujah” or a fond farewell for you, there’s still one shot to make the most of this year with some sweet tax write-offs.
Now’s your chance to splurge… and not just for the hell of it. Investing in high-dollar items over the next week could significantly reduce your taxable income for 2022. So, turn splurges into valuable expenses with major tax rewards. Plus, reap the benefits of some high-quality equipment as we step into the new year.
Here are our top suggestions for your next smart splurge.
TATTOO MACHINES
The top drawer of your dreams awaits. Maybe you’ve been restraining yourself from buying a new machine because it felt like the responsible thing to do. But grabbing that machine (instead of longing for it) can 100% be written off as a valuable business expense. After all, tattooing with a top-quality machine is a responsible business venture that’s only going to improve your game. And improving your game can only lead to a bigger client list. Plus, a high-quality machine can last you for several years, so every cent counts toward longevity. Check out our blog on High-Quality versus Low-Quality Tattoo Machines here.
In the meantime, explore all your favorite machine manufacturers and brands, including Peak, FK Irons, Cheyenne, InkJecta, Vlad Blad, and more.
STUDIO EQUIPMENT
But it doesn’t have to be a four-figure splurge. You can also stock up on everyday shop equipment, or maybe upgrade to a better brand or model. For example, you can replace your old stencil copier machine with a fresh one; upgrade your workstation’s organization with new modular shelves by iconic new school artist Jesse Smith; or change up the way you display your body jewelry selection for 2023.
But maybe you’re not shy and really want to be a big spender as far as studio equipment goes. In that case? Well, it might be time for a brand-new autoclave from top-selling brands.
STUDIO FURNITURE
In the spirit of going big or going ALL the way home, maybe it’s time to revamp your whole shop with sleek, ergonomic, fully adjustable new Fellowhip furniture. It’s always advantageous to make your shop look more inviting (and more badass). But it’s even more advantageous when you can improve your posture and reduce back pain in the process. Grab yourself a few new artist chairs with fully adjustable height and contoured cushioning. Plus, make your workstation more convenient and organized for 2023 with comprehensive workstations, complete with device holders, wheels, drawers, and stainless-steel surfaces. Oh, and don’t miss out on the Fellowship Vision + Photo arm kit for easy access to your photo references and smart device.
iPads + NEW COMPUTERS
And speaking of smart devices… now’s an excellent time to invest in an iPad. If you’ve been thinking about delving into the world of digital art, grab an iPad now for *ka-ching* major tax benefits.
You might also be due for a laptop or desktop computer upgrade. A brand-new computer or iPad can only make your life easier, especially with the latest features and tech. You can use either of these devices to make consultations totally digital, designing your tattoos directly onto photos of your client’s tattoo site. That way, they can see firsthand what they’re getting.
Maybe you’re already doing this on a computer or iPad that’s lagging, cracked, or giving you other headaches. So, hop on this opportunity for a fresh one.
STUDIO SOFTWARE
If you’re already set with an iPad and all the smart devices you need, maybe it’s time to upgrade your studio software. Or perhaps it’s time to invest in studio software for the very first time. If you’re a shop owner, we recommend you check out Rev23, which offers a comprehensive software package for majorly efficient shop management. This package includes a POS system, virtual receptionist, and full scheduling + appointment calendar (and more). It goes without saying: streamlining the way you manage your shop could really help you breathe a little easier in 2022.
If you’re thinking a little smaller, Rev23 also offers essentials like security cameras, receipt printers, cash registers, and barcode readers.
INK SETS
A lot of times, we settle for singles instead of sets. For one thing, sometimes we just need a single bottle. And for another thing, they’re more affordable, they’re less glitzy, and they seem like a more responsible purchase. But, hey. 2022’s over, baby, and your taxable income isn’t getting any lower with that kind of thinking.
Fill your ink caps with the signature sets of your dreams. Or, if you’re tired of mixing your own shading inks, stock up on a quality new greywash set. Everything you need to complete your ideal palette is right here. Find all your favorite brands, including World Famous, Eternal, Solid Ink, Industry Ink, and beyond.
PROFESSIONAL PHOTO GEAR + ACCESSORIES
Nothing says “New Year’s resolution” like a totally revamped portfolio or social media presence. One of the best ways to do that? High-quality photos and videos of your work.
While you can certainly step up your photography game with some of the supplies Fellowship has to offer — including the BrowLite, Ottlite, and Vision Photo Arm (see our Studio Furniture Section) — there’s nothing like a brand-spankin-new DSLR camera. Or a durable tripod. Or a fresh lens with creative lens accessories. If you’ve been striving for a glossier portfolio or better videography of your work, check out all this equipment and more from quality retailers like B&H Photo, Video, and Electronics or KEH Camera.
And by the way, if you’re seeking advice on how to upgrade your tattoo photography game, check out our blog here. It’s chock-full of pro tips from artist Kasey “Gonzo” Gonzalez. He’s a master of realism and his photos show it.
A TRUCK FOR YOUR SHOP… OR JUST FOR YOU
Intimidated? Don’t be.
Imagine docking 5 figures from your taxable income… and having a shiny new car to boot: great for convention travel, mobile artistry, and shop errands (like picking up your next order from PainfulPleasures) ?
Section 179 of the IRS Tax Code is your friend, here. If you purchase a vehicle as a business expense, and that vehicle weighs over 6,000 pounds, you can deduct the full purchase price from your taxable income when the year ends.
So, if you’ve been fantasizing (perhaps guiltily) about dropping dough on the tattoo shop truck of your dreams, our advice is to go for it… give your aspirations wheels. Your dreams, in this case, are responsible ones.
REMEMBER: IT’S NOT A SPLURGE… IT’S A TAX WRITE-OFF
While we highly recommend closing out 2022 with a (responsible) bang, you can always benefit from simply staying inspired and advancing your skills. If it’s a slow era at the shop, take some time to keep drawing, keep learning, and maybe keep practicing on some of the best canvases A Pound of Flesh has to offer. And don’t forget to show us your work into the new year!
DISCLAIMER: The information provided in this blog does not, and is not intended to, constitute legal advice. All content of this blog is for general information and educational purposes only.
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