Board index Photography Technical Questions Paying Taxes for a Photography Company

Technical Questions

Paying Taxes for a Photography Company

Discuss technical aspects of photography
riff419
 
Posts: 2

Paying Taxes for a Photography Company

Post Sun Feb 05, 2012 10:34 pm


When setting up a photography business whats the best way to classify your business for tax purposes, LLC or incorp?

amoxtli
 
Posts: 3191
Location: San Diego, California

Re: Paying Taxes for a Photography Company

Post Mon Feb 06, 2012 4:20 pm


I don't know much about this, but if you are the sole proprietor a LLC might make more sense for tax purposes. When you find out, please post here, I would be interested in learning more about this.
Walter Otto Koenig Architectural Photography: http://www.wokoenig.net

General Photography: http://www.wokoenig.com

Pacific Photographic Society: http://www.pacificphoto.net

arjunrc
 
Posts: 1003

Re: Paying Taxes for a Photography Company

Post Fri Jun 15, 2012 7:11 pm


Depends on your long term goals, but most people I know start with LLC especially when starting small from hobby to a profession. Most of the advantages of a corp. (S or C) are to do with how the company ownership can be structured, share allocation, going public, etc. Both LLC and corp allow for limited liability to the owner, which is important if things go wrong and/or your business is sued. (All of this is relative to US based companies - I have no idea about other countries).
This link offers an easy to understand set of differences: https://www.myusacorporation.com/articl ... s-llc.html
--
I don't check forums very often these days, so if you need to get a response from me, please send me an email (see my profile) and NOT a PM.


Board index Photography Technical Questions Paying Taxes for a Photography Company

Who is online

Users browsing this forum: No registered users and 1 guest

cron