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trying to watch the section on contracts and cant get it to come up : (
Thank you for this great intro and I’m looking forward to learn more details in the future videos! Here’s one of my biggest concerns regarding sales tax: with many of us shooting outside of our home state, how should we approach sales tax for each of those states or even destination weddings in foreign countries? My guess is that we need to get help from the accountant every time we deal with a new state, new country, having to set up a way to pay those sales taxes or VAT. It may be quite complicated for just one accountant and these accounting fees may pile up – initially we might not even consider this expense when we get that new exciting booking for a destination wedding and later we discover that accounting fees lowered or maybe even eliminated any profit we expected from that booking. This leads me to the next issue of the income tax. If we frequently shoot in neighboring states, shouldn’t we register our business in each of those states as well and then pay income tax? I’ve heard that some states may also have tax laws that in effect hit you with a double taxation (paying taxes in your resident state and non-resident state). This is where we need our accountant to help us out, even though it will cost a pretty penny. I’d love to see a series or at least worksheets dedicated to these tax issues individually tailored for each state.
Rafael, for every state and country, you will have to talk to your lawyer and accountant for these answers!
In regards to trademarking your business. Do you do that before you have filed the LLC / S-Corp or does this process come afterwards? Thank you.
I did mine afterwards.
Hi Susan, what’s your contingency plan if anything unforseen happens and you absolutely can’t shoot a wedding?
So many good points in this video! I have so many financial and legal things to research now…
I recently rebranded from my original company name : H-Photography (because it kept being read as HP Photography and was pretty generic overall) to Hadassah B. Photography. It was a very difficult decision to figure out how I would rename my brand. I was so concerned people would have trouble spelling my name but I believe with a name as unique as Hadassah, the business name will be remembered a bit more easily and also be a kind of conversation starter. So far, I’m getting great responses to the change.
I struggle with my name, I named my buisness DeAnda Photography, I was married at the time,
but have no children and we have since divorced last year, I do plan on getting remarried and will be changing my last name since that is important to me. I have built up my buisness and have pretty decent SEO, Would be it be wrong of me to keep “DeAnda Photography” Even if in the next 3 years, DeAnda is no longer in my name, is that confusing? Im so torn….
It’s a totally personal decision, and I can understand how difficult it is! I chose to keep Stripling as my business name when my last name changed, as I was already known in my area by that name.
I would love to have a studio and a proper business address. One time I had to mail some photo prints to a client and I hesitated to put the sender’s address as my home address but I did it anyway. Next time I will get a mailbox service. I’m scared to invest in an office space until business is steady. I would meet clients at cafes for now.
Hi Susan, I think a while ago you were having clients visit you at your home. How did you find this? I’m thinking of having clients come over for meet ups or alternatively meeting at a coffee shop – just can’t afford an office space yet.
I answered this in the weekly Q&A on 10.02.16!
Having a studio would be amazing and you bring very good reasons (conversion rates) by bringing legitimacy to the business, never really thought about it that way. Of course, the finances have to be right first!
They absolutely do!
Just watched this series. Great information.