The IRS Has No Chill, But Your Receipts Should, with Tanya Lawrence

Have an idea or tip? Send us a text! Taxes drain more profit than most owners realize, and that single fact changes how we build, run, and sell a creative business. The Dead Pixels Society sits down with accounting expert Tanya Lawrence to map out the moves that protect cash today and increase valuation tomorrow—without drowning in jargon or guesswork. She starts with the foundation: Choosing the right tax treatment as your company evolves. Lawrence explains why an LLC is a legal shell, not a tax status, and how to time a shift from sole proprietor to S corporation as profits grow. From there, we dive into bonus depreciation and asset strategy for studios, labs, and print shops—how to expense gear in the year you buy it, when to spread deductions, and why leasing isn’t a shortcut to bigger write-offs. She also walks through a crucial point for anyone planning an exit: buyers and banks focus on the last three years, so a business needs clean books that show profit while still using assets and intangibles to optimize taxes. The conversation gets practical fast on compliance and audits. Bank statements aren’t enough; receipts prove purpose. We share simple systems for digital receipts, the 75-dollar rule, and the pitfalls of vehicle deductions when personal use overlaps. We also reframe your website and SEO as intangible assets to amortize, not just marketing spend—especially relevant for photo retailers and labs whose storefronts now live online. On cash flow, Lawrence breaks the P&L myth and shows how principal payments and owner draws drain cash, even when profits look strong. For seasonal operators, we outline a multi-account setup that moves peak revenue out of sight and keeps the lights Photo Imaging CONNECT The Photo Imaging CONNECT conference, March 1-2, 2026, at the RIO Hotel and Resort in Las Vegas, NPodMatch PodMatch Automatically Matches Ideal Podcast Guests and Hosts For Interviews Mediaclip Mediaclip strives to continuously enhance the user experience while dramatically increasing revenue. Buzzsprout - Let's get your podcast launched! Start for FREE Independent Photo Imagers IPI is a member + trade association and a cooperative buying group in the photo + print industry. Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you. Support the show Sign up for the Dead Pixels Society newsletter at http://bit.ly/DeadPixelsSignUp. Contact us at gary@thedeadpixelssociety.com Visit our LinkedIn group, Photo/Digital Imaging Network, and Facebook group, The Dead Pixels Society. Leave a review on Apple and Podchaser. Are you interested in being a guest? Click here for details. Hosted and produced by Gary Pageau Edited by Olivia Pageau Announcer: Erin Manning