<p>I have been playing with my DSRL for just over 2 years now, and I am getting better at photography. On a scale of 1(worst) - 10 (best), I am about 4.5.</p>
<p>Recently, I dumped all my entry level equipment and acquired a full line of professional equipment (used ones). With those, I have done a couple projects and most of the people I shown to like them. Some colleagues have agreed to be my models for a wedding and some high school senior photo. SOme of my shots might be even used for a local festival as ad photo. </p>
<p>DW is interested in the idea too since she could do some PS work at home.</p>
<p>The business model will be “low cost”, and the first thing I need to find a way to write off the cost of these equipment. I wold not mind doing a saturday wedding for $300 ~ 500. I heard the typical charge is around $3,000 ~ $4,500. </p>
<p>Spent ten seconds trying to think of what DSRL was and then read the context and thought that it must be DSLR for Digital Single Lens Reflex [camera].</p>
<p>I’ve had a hobby for four years that I’ve spent a lot of time on and I could have turned it into a full-time job but my current job provides quite a bit. I just do the hobby stuff from time to time and am trying to pass it on to my son (to add to his resume).</p>
<p>The BBB in my town runs free courses specifically for people looking to open a small business. These classes are taught by volunteers who have been successful small business owners. It is a tremendous resource and it is absolutely free. </p>
<p>Ask around in your community for similar resources. Best of luck to you with your new business.</p>
<p>The IRS has pretty specific rules on what is a hobby and what is a business. You may want to look them up before you decide to “write off” your equipment.</p>
<p>No advice on how to start a business, but I was once told by a photography teacher (also a freelance photographer) that her business actually improved substantially when she increased her rates. Apparently, if your prices look too good to be true, people will assume that they are!</p>
<p>You need to meet with a CPA to discuss incorporating as a business. It’s a little more complicated than you might think. You have to license your business with the state, file appropriate paperwork, get your business name and business cards, and open a separate bank account under your business name. Then you would reimburse yourself for the costs of your new equipment from the initial funds that you deposited in your business account to set up the business. In order to write off the costs of the equipment, you also have to have income generated by the business, all within the same calendar year.</p>
<p>As a schedule C myself, you do not have to do all the things bookiemom indicates. But you do have to keep good records and you do have to pay taxes on your income, including 15%+ social security tax since you pay both the employer and employee portions. </p>
<p>I have always had an accountant and we review whether or not I need to have a more formal corporation and the answer has always been no. If you charge for your services you have to declare the income on Schedule C whether you intended to be your job or not. DH fiels his own Schedule C for his refereeing income. You do not have to make a profit your first year, there are rules as to how long you can go without a profit before they disallow expenses but still tax the earnings. See help if you get into this.</p>
<p>Contact the Small Business Administration. They’ll be able to help you with most of what you need to know. Also, SCORE can be very helpful ([???](<a href=“http://www.score.org%5D???%5B/url%5D”>http://www.score.org)</a>).</p>
<p>It sounds like that’s really all you’re interested in doing – finding a way to write off the cost of the equipment you purchased. Doesn’t sound to me like you’re really interested in the photography biz; you just want a way to deduct the major expenses of your hobby. Ugh.</p>
<p>I agree with Owlice…and I will also caution…remember that any income from your own “business” will have to be added to the financial aid forms. You have mentioned more than once that your financial aid is favorable because you earn the right amount for it to be so. Seems to me you don’t want to jeopardize that for a HOBBY.</p>
<p>In addition to the sage posts above, if you truly <em>are</em> planning to go into photography as a side business, especially if you plan to do wedding photography, you’d be wise to buy some sort of liability insurance and/or an umbrella policy in case some unhappy bride doesnt like the photos and sues. It happens. Also, professional photographers typically have assistants who help with lighting (carrying and setting up), extra rolls of film (for traditional, non-digital cameras) and extra cameras (you’ll always want a back-up in case something doesnt work on your used camera equipment in the middle of a wedding). All this stuff costs MONEY. If you are going to do it (as a side profession), do it right. Otherwise, keep it in the hobby category and forget about finding creative ways to get Uncle Sam to subsidize your hobby.</p>
<p>**Also… if you really want to do wedding or portrait photography, I’d suggest you get your skill level up to an “8” at least, before you start charging people for your services.</p>
<p>Another thought…before you “hang your shingle out” for paid photo services…you need to have a portfolio of your work. To me, this would mean VOLUNTEERING your time to do some weddings or other portrait work. We know a number of professional photographers and their work is largely based on the portfolios they present to clients. In addition…for weddings…these days, you MUST have a relationship with a very reputable person to put together the other “stuff” that bridal couples expect these days. This includes the formal portraits, albums (larger family ones and smaller ones), board books of prints (the new rage for brides and grooms), and the CDs put to music etc. It’s NOT just snapping pictures…it’s the whole package.</p>
What/how much did you buy? Even used, that stuff is expensive. How much did it cost? I had a pt tell me she bought a used Hasselblad - cost her a friggin’ fortune.</p>
<p>And you said wife is interested in doing ps. Photoshop? Can you clarify?</p>
<p>Keep in mind that your hobby business needs to report a profit periodically–or it’s a hobby and the write off’s will be disallowed. Check into the SCORE program as suggested above, the group in our area was a big help when my friend started her business.</p>
<p>I second thumper1’s post–wedding photography is much more than just going in and taking photos. My D recently got married and I was astonished at the choices of photographers and what they offered. We looked at websites and met with several photographers. All of them offered packages including the albums and board books (which are way cooler than albums). These folks would be at all events (not just the wedding)–they’d come to the rehearsal dinner or the brunch the next day. In most instances they didn’t do the wedding photos alone; they had assistants. Plus, everyone we met had a portfolio of work. Many of these people were highly accomplished photographers. I’d think that in order to compete, you’d definitely need experience doing weddings and a body of work that you could show potential clients.</p>
<p>Photography is my husband’s hobby, too. He’s excellent. He’s a “10+” on anyone’s skill scale. In his working life, he is a professional filmmaker and cameraman and has an “eye” that’s won several awards, including some that you’ve probably heard of. </p>
<p>In spite of all his skill and talent, he doesn’t do weddings. He shot stills for one and vowed never again. Never again. He said there’s too much drama, emotions, and risk. Not worth the trouble. He has the utmost admiration for a good wedding photographer, but wouldn’t want to be one. </p>
<p>DadII, I urge you to think twice before you invest in a new business aimed (at least in part) at shooting weddings. It’s stressful, expensive, and inflexible. </p>
<p>I agee - wedding photographers deal with too much drama. What about prom, graduation or other types of photos where less drama is involved? 10 prom couples at $50 a pop is better than one wedding couple at $500.</p>