Monday, August 23, 2010

PHOTOGRAPHER legal advice *PLEASE*?

DOES A FREELANCE PHOTOGRAPHER NEED A TAX ID NUMBER?..


and What are some legal advice you can give mePHOTOGRAPHER legal advice *PLEASE*?
every state has slightly different laws for self employed tax reporting and licensing. Don't take the advice of anyone here. We are not tax experts... we are photographers.





Contact a qualified attorney for advice.PHOTOGRAPHER legal advice *PLEASE*?
Before I gave it up for the extremely lucrative profession of photography, I was an accountant. I would recommend you get both a state and federal tax id #. As noted above, if you are not employing people you can report under your social security number so it is not an absolute requirement, but the IRS is happier if you do, and keeping the IRS happy is not a bad idea.





I would recommend you get a CPA (not your buddy's girlfriend who keeps books) to set you up properly. You should consult with an attorney re: legal issues. Each state, indeed each municipality, has different laws and regulations - there is no way someone in here could give you a comprehensive list. For example, some cities require freelance people to have a local business license, others do not. A local CPA and attorney are your best bets for information.





It may seem like it costs too much to consult with these professionals, but in the long run it will save you a lot of money and many headaches, and you might even avoid being sued. Worth every penny then.





EDIT: I just noticed all these ads in the margins for Federal ID #s. If you call the IRS (or go online to http://www.irs.gov ) you can get it for free. You do not need to pay anyone to obtain a tax id #.
Freelance and making money you need to keep very good records.


I used my SS number for most of the years I did photo only. When in the good years were happening my accountant set up the tax id for the llp corp. we set up.


So, if you doing it part time and keeping very good records and your not making most of your money doing it you set with your SS number. Once you pay help it all changes. Get an accountant and go over what and how your doing things. Well worth the price.





Remember save cash and be ready to pay the taxes.

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