let's talk about everyone's favorite subject taxes. So I know I briefly mentioned it in the previous lesson about saving for taxes, but taxes are a part of everyone's life, especially people who have and run their own businesses, We keep mentioning this, but depending on where you live, your state, your city, your country taxes are going to look different for everyone. The percentage that's collected when it's collected, how you make those payments. Again, it's going to be different. So it's important to find an accountant who can help you with this in your local area to talk to other photographers in your area to see how it works for them. If you're just getting started, The main thing to understand is that you have to pay taxes on any income that you make. So it's a good idea to estimate what percentage you need to save so that you can keep that in your bank account or even a separate bank account so that you can make those payments from that account and not have to worry about where...

you're gonna come up with the money for paying your taxes. Do not fall into the trap of not knowing how much you owe and spending all your money that you're making. Because if you're running a legitimate business, you need to be paying taxes and know how much you owe. Another thing that will mentioned briefly in the last section was sales tax. This is again gonna change depending on what region you're in, what kinds of things you're selling. But if you're selling things like physical goods, if you're selling at the local market Prince, you might have to charge sales tax that go to your local government to your state. So again, something you have to look into and you add that sales tax on the top of any prices you charge and you have to save that money and send it back to the government with taxes. I also want to just mention that the good thing is that if you have expenses as a business, those are usually tax deductible. So things to keep in mind are of course your equipment. So if you're buying a new camera gear, this is gonna be deductible if you're running an actual photo business, travel costs such as mileage or lodging. If you have to stay somewhere that's also going to be deductible meals depending on what it's for during a shoot partially can be deducted as well. Again, going to be different wherever you live though. Also, if you have a home based office, some of your home office expenses can be deducted. Generally things like your internet or even your other utilities, electricity, water, those things can be partially deducted if you are working from home. It's important though to talk to an accountant to find out what is actually available to be deducted in your area. one thing you should consider though is because you might have to pay a lot of taxes on the income is should you be paying that in taxes or maybe is it a good idea to invest that? Reinvest it in your business with things like better equipment or bulking up your website, advertising, promotional costs, those kinds of things. This is something that maybe at the end of the year and you look back and see how much you've made and see if you've had enough expenses or what your taxes are going to look like and you have to make that judgment call on if it will be better for you to reinvest in your business or not. So that's a little bit about taxes. I know it's not the best subject that everyone likes to talk about and again, talk to an accountant in your area to help you out with your own situation.

Class Materials

Bonus Materials with Purchase

15 Tips: How Your Photography Business can be Adapted to Online Services

Start a Photography Business

Workbook

Worksheet

buy this class

$00

Buy Class

Sale Ends Soon!

starting under

$13/month*

Unlock this classplus 2000+ more >

79.7K Students

99% Recommend this Class

00 Student Work

0 Video lessons in HD
00h 00m of class content
Exclusive bonus content
Lifetime access, anywhere, anytime
Streaming access on desktop and mobile browsers
Download and offline access with class purchase
Offline sync with our iPhone & iPad apps
100% satisfaction guarantee

Philip Ebiner

Professional video & course creator, photographer & teacher to 1mil+ students; 10+ years experience with 1000+ videos.

SEE INSTRUCTOR'S CLASSES

Will Carnahan

11+ years experience as a cinematographer, camera operator, and photographer. Working with Disney, Nike, ESPN, PredPol and many others.

2,000+ classes ranging from fundamentals to advanced techniques.

Business Tax Tips

Business Tax Tips

Lesson Info

62. Business Tax Tips

Lessons

Welcome

Why Do You Want to Start a Photography Business

What Kind of Photography Business Do You Want to Start

Important Personal Note from Instructor Will

Case Study Starting a Photography Business

Quiz - Chapter 1

Introduction to Basics of Starting a Photography Business

Choose Your Business Name

Choose Your Business Structure

Register Your Business Name

Get Your Federal Tax ID

Get Your Business License

Get Your Business Bank Account

Register Your Online Accounts

Branding Your Business

Set Your Prices

The Photography Gear You Need to Start a Business

Case Study - Business Basics

Case Study - Equipment

Quiz - Chapter 2

Intro to Getting Your First Paying Clients

You Need to Prove Yourself

The Best Place to Find Your First Clients

What to Charge for Your First Clients

On Set - Partnering with Other Creatives

On Set - Getting Work in a Competitive Environment

Use Your First Shoot Wisely

Case Study - Getting Your First Clients

Quiz - Chapter 3

Introduction to Create Your Photography Business Website

Why You Need a Website and Platform Options

What Needs to Be On Your Website

Design the Perfect Portfolio

Case Study - Looking at Photography Websites

Quiz - Chapter 4

Introduction to Expanding Your Online Presence

Use Instagram to Grow Your Business

Use Facebook to Grow Your Business

Get Listed on Google

Get Listed on Yelp

Get Listed on Review Sites

Using Craigslist to Get Work

Case Study - Expanding Your Online Presence

Quiz - Chapter 5

Introduction to the Photography Business Workflow

Step 1 - Meeting Your Client

Step 2 - Booking Your Client

Step 3 - The Shoot

Step 4 - Editing Your Photos

Step 5 - Delivering Your Photos

Case Study - Business Workflow

On Set - the Shoot

On Set - Backdrop Placement

On Set - Paper Backdrop Rolls

On Set - The Back Light

On Set - Interacting with Clients

Quiz - Chapter 6

Intro to Business Infrastructure and Continued Growth

Productivity Tools to Make Your More Efficient

Get Business Insurance

Accounting Tools & Tips

Business Tax Tips

Scaling Your Prices Up

Use Conventions and Meet Ups to Grow Your Business

Case Study - Business Growth

Quiz - Chapter 7

Intro to the Selling Prints Section

Why Should You Sell Your Prints

Choose a Printer

How to Price Your Prints

Selling Your Prints Online

Selling Your Prints in Person

Wrapping up This Section

Quiz - Chapter 8