Business type for side income?
PilotBrad
Registered Users Posts: 339 Major grins
Good day... I realize this question borders on legal/tax advice, but I'm just looking for some general information or suggestions.
I have a full-time job and for me photography is simply a hobby. That being said, as my experience has grown my hobby has started to get a little more serious in that I am being asked to present and sell at local shows, display/sell at local wineries, or friends and associates are asking to buy my work. Income from all of this, albeit small, is starting to come in and it seems to be trending slowly upward.
I am also seeing my expenses grow (printing, mats, frames, etc.), and I am thinking that it might be a good time to start thinking about setting this up as a small business. Doing so allow me to write-off some of my expenses, or at least use them to offset some of the income/profits.
I have no desire to become a for-hire photographer; I simply take the photos I want to take and if someone likes them and want to buy one... Great! Since I will not be offering myself for-hire, I'm leaning toward setting up a simple sole-proprietorship, but I am curious if anyone else our there has crossed this bridge before me and has any input or general suggestion?
What kind of busiess or structure did you set-up for your side income?
TIA!
I have a full-time job and for me photography is simply a hobby. That being said, as my experience has grown my hobby has started to get a little more serious in that I am being asked to present and sell at local shows, display/sell at local wineries, or friends and associates are asking to buy my work. Income from all of this, albeit small, is starting to come in and it seems to be trending slowly upward.
I am also seeing my expenses grow (printing, mats, frames, etc.), and I am thinking that it might be a good time to start thinking about setting this up as a small business. Doing so allow me to write-off some of my expenses, or at least use them to offset some of the income/profits.
I have no desire to become a for-hire photographer; I simply take the photos I want to take and if someone likes them and want to buy one... Great! Since I will not be offering myself for-hire, I'm leaning toward setting up a simple sole-proprietorship, but I am curious if anyone else our there has crossed this bridge before me and has any input or general suggestion?
What kind of busiess or structure did you set-up for your side income?
TIA!
Brad
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