Should I ask for another check?

deegeedeegee Registered Users Posts: 69 Big grins
edited June 21, 2009 in Mind Your Own Business
Hi All,
So far I've just been operating at the hobby level... so I don't have a business bank account and most just write their check payable to my name. I just got a check made out to "my name photography"... I know I will eventually get a tax id # and open a business account... but I'm wondering if that takes a while or could I get the number and bank account within a few days? (The check is already 3 weeks old!)

Any advice or links on how to properly establish myself as a business w/ irs would be very helpful.

I'm basically wondering if it's a quick process or if I should ask this client (who I really don't feel like bothering) if they could write a check out without including "photography"

help! :dunno

Comments

  • mleemlee Registered Users Posts: 104 Major grins
    edited June 20, 2009
    You can get a TaxID in a matter of minutes on the IRS website (http://www.irs.gov/businesses/small/article/0,,id=102767,00.html) - however you should really check with your back to find out what they require to open a business account. I know in California there are a number of other things that must be provided depending on what type of business you are.

    Mike
  • Rocketman766Rocketman766 Registered Users Posts: 332 Major grins
    edited June 20, 2009
    I needed to have my DBA (doing business as) forms from the county clerk in order to open a business account at my bank. It had to be a certified copy which cost me $25 for 2 copies, one for the bank and one for my records. I do not have any employees at this time, so I am operating as a sole proprietor, so I do not need a EIN yet. However I did get an "authority to charge sales tax certificate" in the county here also. I don't remember if I needed it with me, but I took it when I opened the business account.

    *as an added benefit, the lady that handled my new account...had just started looking for a photographer...thumb.gif
  • ChatKatChatKat Registered Users Posts: 1,357 Major grins
    edited June 20, 2009
    Accountant
    i suggest you check with your accountant as to what kind of entity you should be since it will affect your taxes. To set up a business if you accept more that $600 a year in gross receipts you have to file a tax return - both for California and Federal. You can take losses against income that offset personal tax/expenses. If you plan to be a sole proprietor, you don't need a tax ID and if your business is First Name/Last Name and Photography you don't even need a DBA or tax id (I am an accountant....)
    Kathy Rappaport
    Flash Frozen Photography, Inc.
    http://flashfrozenphotography.com
  • Art ScottArt Scott Registered Users Posts: 8,959 Major grins
    edited June 20, 2009
    deegee wrote:
    Hi All,
    So far I've just been operating at the hobby level... so I don't have a business bank account and most just write their check payable to my name. I just got a check made out to "my name photography"... I know I will eventually get a tax id # and open a business account... but I'm wondering if that takes a while or could I get the number and bank account within a few days? (The check is already 3 weeks old!)

    Any advice or links on how to properly establish myself as a business w/ irs would be very helpful.

    I'm basically wondering if it's a quick process or if I should ask this client (who I really don't feel like bothering) if they could write a check out without including "photography"

    help! ne_nau.gif

    Since your in CT I would check with local govt.....Kathy's is pretty much correct on her suggestions but that is CA.......I know here in Ks, all we need to do to open a business acct is have $100 for deposit and if sole propriator just sign with your name + (type of business...ie: photography, clown, what ever) and your good to go.......
    As for the check you have just received ...... most banks will cash it with no problems........over theyears I just make it a desposit or go the clients bank and cash it there.............
    "Genuine Fractals was, is and will always be the best solution for enlarging digital photos." ....Vincent Versace ... ... COPYRIGHT YOUR WORK ONLINE ... ... My Website

  • AngeloAngelo Super Moderators Posts: 8,937 moderator
    edited June 21, 2009
    deegee wrote:
    ...I just got a check made out to "my name photography"...

    are we to assume your bank refused to accept the check for deposit?
    www.angelo.smugmug.com

    Moderator of: Location, Location, Location , Mind Your Own Business & Other Cool Shots
  • deegeedeegee Registered Users Posts: 69 Big grins
    edited June 21, 2009
    thanks!
    Thanks for all that info! You were right, applying online for the tax id took a matter of minutes online and then I also registered in my state for sales tax use permit which was $50.

    I was able to open up a small business checking account with the info I got online and cash my check! I guess I better find an accountant now so that I am handling the tax $ properly.

    This year all of my profit is going towards new lenses and a new computer... so I won't really have any net profit. Does that make it easier come tax time?

    Thanks again all!
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