Separation of personal and business equipment?

Do you use your professional photography gear only for work, and use something else for photographing friends & family? I am considering keeping one body/lens just for this purpose. I think that ideally, you would want to separate personal from business, but do you actually do that?

Are you talking about for someone who is self-employed or someone who is a staffer? I work for a Hearst Corporation newspaper and I use company gear only for company work. My paper insures my personal equipment as well for times when I use it, but I don't think they would appreciate me damaging a company piece while off the clock.

Your question pertains to proper accounting for income tax purposes, and possibly for personal property tax purposes (if such exist in your part of the world).

Laws vary greatly around the world. Best ask your accountant. If you don't have an accountant, get one who is familiar with the tax laws pertinent to your jurisdiction. A good one will save you more money than they charge.

My 'professional' equipment is too big to bring home!

Seriously though, I do have some Canon equipment that serves both purposes. In fact, I purchased my 5D largely as a 'family' camera though I do shoot work with it on occasion. And FWIW, virtually anything that I buy in the photography world is run through the studio's books as it is likely to be used there for something...

My work issues me gear, it stays at work.

My personal gear gets used at home

JamesDurbinMedia wrote in post #15365909
Are you talking about for someone who is self-employed or someone who is a staffer? I work for a Hearst Corporation newspaper and I use company gear only for company work. My paper insures my personal equipment as well for times when I use it, but I don't think they would appreciate me damaging a company piece while off the clock.

Sorry, I should have specified that I was referring to self-employed photographers. I, too, would use company gear only for company work in your case.

Curtis N wrote in post #15365914
Your question pertains to proper accounting for income tax purposes, and possibly for personal property tax purposes (if such exist in your part of the world).

Laws vary greatly around the world. Best ask your accountant. If you don't have an accountant, get one who is familiar with the tax laws pertinent to your jurisdiction. A good one will save you more money than they charge.

I was thinking more along the lines of insurance. But you're right with regard to taxes - I think that a sole proprietorship is treated differently here in Canada than in other countries, in that it is treated as another source of personal income.

One thing I'll need to look into is whether my business equipment would be insured if used outside of work.

Foodguy wrote in post #15365988
My 'professional' equipment is too big to bring home!

Seriously though, I do have some Canon equipment that serves both purposes. In fact, I purchased my 5D largely as a 'family' camera though I do shoot work with it on occasion. And FWIW, virtually anything that I buy in the photography world is run through the studio's books as it is likely to be used there for something...

Echo63 wrote in post #15366022
My work issues me gear, it stays at work.

My personal gear gets used at home

I think this is a good approach.