29. Financial Records

For two reasons, it is good to keep track of income and expenses related to modeling assignments.

A) To make sure that records are straight for tax purposes.

B) To make sure that your modeling assignments produce more for you than they cost. Income is simply what you get paid per session (including transportation money, if that is part of the agreement) . Expenses should include phone bills, transportation expenses, expenses for advertising and publicity publicity (printing business cards and resumes, mailing letters and resumes, putting together your portfolio, agency fees and association memberships ) . A second type of expense which can’t be measured in a “reportable” way is expense of time. Time spent in keeping a short appointment at a place some distance away might be better spent keeping a longer appointment closer to home, unless the more distant appointment offers greater rewards in ways that are not financial. See Appendix C for a financial records form.

18/12/2009