Reply To: "You Should Quit Your Day Job and Focus on Photography"

[Bill]

Hello Alarnold  –  I remember you.  You asked for a critique or something of that nature, not too long ago.  The woman in the woods was the image you were asking about.

Very nice portfolio.  I would say, if you could juggle the paying job and the photography together, then do both.  You never know when the photography may get slow.  I have a buddy in L.A. that is pretty good and he has has ups and downs all the time.  He can make $15K one month and chump change for the next few months, so he kept his day job just for that reason.

Questions?  For your photography, are you all legal?  meaning, do you have a business license?  Tax-ID #?  Insurance and all that jazz?  The reason I ask, is because if you don’t, you may be missing out on a lot of write-offs.

If it is still just a paying hobby, then you may consider it, but I would not go the corporation route unless your situation has a benefit for it, otherwise you will be paying double taxes.  The company will pay income tax and require quarterly earning reports to be filled and you, as an employee of the company, will pay income tax as well.  One of the benefits is that you are protected somewhat from lawsuits as the company becomes a living entity.

I am by no means a professional at this, your better off talking to a CPA  to see what avenue would better benefit you.

Good Luck!