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03/17/2005 12:44:47 PM · #1 |
i think almost everybody who is a good photographer and even those like myself who arent the best would say there in business for themselves even if they make jus a few dollars on the side. I noticed some folks have business cards some have websites. I havent gottten either. I got a tax id sales tax certificate however i didnt register for DBA in the county i live in thats the only step in the entire process iam going to have to pay for and i feel like iam not making to much off what iam doing to actually invest 50 bucks to register a fictious name maybe later on. question is iam curious as to what others have done? can i come up with a website and business cards ever though i didnt register in the county am i business lol? thanks
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03/17/2005 12:49:46 PM · #2 |
| Tax ID ???? You really dont need that. Office max offers cheap good cards. Freewebs is a good start for you web site Im on there check out my profile. Hope this helps. Oh freewebs offers alot but you can only download 50 pics not bad for free. |
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03/17/2005 01:04:24 PM · #3 |
Either you are in business or you are not - if you are not willing to 'invest' $50, then you are not in business. It takes money to make money.
A Tax ID is used for several reasons i suppose. I have never had one, and have 'been in business' in several hame based businesses. I never registered a DBA -as long the checks are written to you you don't need one ( as in Leon Stephens Photography - if you are Studio L Photography then you will need something to show the bank to be able to cash the checks)
Find a CPA in the phone book or by asking friends. Go pay him for an hour of his time and find out what you need to know to 'be in business' - you need the proper record keeping (not difficult) but knowledge is power, and as far as taxes are concerned that knowledge can mean money.
There are very specific IRS rules about things - if the camera/computer is a business item (tax deductible/depreciable) then you cannot use it for personal use (taking family snapshots, web surfing for fun, etc).
Generally you need a business phone line, the one on the biz card, to be able to deduct that expense - so you need more than one. A cell phone qualifies.
There is lots to learn and you need to know it, so get a book AND an accountant - trying to figure out a Sched C is not for hte amateur, and there are MANY things YOU will miss. The first time i tried it, I figure'd i'd OWE $600. My acct got me $800 BACK! That is a $1400 difference IN MY POCKET! I no longer do my own taxes!
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03/17/2005 01:13:18 PM · #4 |
Originally posted by Prof_Fate:
There is lots to learn and you need to know it, so get a book AND an accountant - trying to figure out a Sched C is not for hte amateur, and there are MANY things YOU will miss. The first time i tried it, I figure'd i'd OWE $600. My acct got me $800 BACK! That is a $1400 difference IN MY POCKET! I no longer do my own taxes! |
great advice! I already learned this mistake the hard way!
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03/17/2005 01:31:25 PM · #5 |
Originally posted by jbeazell:
great advice! I already learned this mistake the hard way! |
This past year my ebay business got me over 85% of my federal taxes back. I 'made' more on the tax savings than i made selling things! Gotta love 'the system' when it works for you!
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03/17/2005 01:33:28 PM · #6 |
Originally posted by Prof_Fate:
There is lots to learn and you need to know it, so get a book AND an accountant - trying to figure out a Sched C is not for hte amateur, and there are MANY things YOU will miss. The first time i tried it, I figure'd i'd OWE $600. My acct got me $800 BACK! That is a $1400 difference IN MY POCKET! I no longer do my own taxes! |
WOW you certaintly anwsered my question prof fate and you think i should invest the 50 bucks i definaltey will now that i know about all the tax benifits your telling me if i lease a camera i can get all that money back so i might as well say i got it for free i see i have a lot to learn timmotyka-i'll definaltly look into that site
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03/17/2005 01:39:01 PM · #7 |
| Your tax ID number should be your social security number. For your DBA, you can use your own name, ie; Leon Photography or something like that. I can't tell you how much I spent in getting my business started. Something you just have to do. So bite the bullet. |
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03/17/2005 01:59:50 PM · #8 |
I hope you got a return on your investment. i'll definatley spend the money to do the dba sounds like its worth it hopefully i dont have to do it every year
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