Business Paperwork?

blackwaterstudio

I'm thinking about making my Photography business offical. IT won't be a full time gig, but a part time job that I can do when I'm not working full time.

I have no idea where to start, and idea's? Websites?

amc

One good way to start is to make your business legal. I can't speak for the regulations in North Carolina and in your particular county, but here we have to go thru the following steps:

1. Get a business license through the county.

2. If using a fictitious name for a business, like XYZ Photography, a quick visit to the county courthouse is required to register that name.

3. Get a state IRS tax permit; since I'd be selling tangible property--photographs--I would have to collect state sales tax. I'd also have to file a tax report with the state every month, until they saw my business was too small, and then they would require only quarterly sales tax reports and payments.

4. And of course, for Uncle Sam, I would have to file a Schedule C each year, along with a Social Security tax.

5. In our county, we also have to pay personal property tax on the assessed value of all equipment used in that business....cameras, computers, file cabinets, etc.

I've personally had to go thru all this some years back when I did special event photography and videography on the side. It's a bit of a nuisance, but it makes you a law-abiding businessperson, with the right to deduct legitimate expenses.

And with that out of the way, you can concentrate on building your business! I've seen your gallery and your equipment/glass...and all I can say is GO FOR IT!

Good luck...

blackwaterstudio

Thanks for the kind words AMC. I'm going to go to the court house in the morning and see what I have to do.