Quote:
Originally Posted by StillFocus
There is no extra tax for the business; that was my point. An LLC is not a seperate legal entity for tax purposes, all profit is treated as personal income for the owner(s).
This thread also "incorrectly presupposes" that anyone and everyone who wants to take pictures for a living is going to be doing so in New York. This whole thing is just one big fallacious mashup.
I just didn't want a misconception on taxes to scare people away from forming an LLC, which in my opinion is the first thing you want to do if you are serious about doing ANY business solo.
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Exactly, you are taxed no differently..ask me how I know.
And I also agree, this is an argument which makes no sense. Doesn't matter where I live, if I have no extra expenses--or are willing to make significant sacrifices--you can live just about anywhere on this kind of salary. Will you be living large in NYC? Absolutely not, but you can do it--many more people do it than you think.
Also, the argument about an attorney being miffed if another attorney undercuts their pricing happens every day. Go see what the average attorney earns--it's not the huge amount you think. Same goes for many doctors as their malpractice insurance has skyrocketed. Insurance for a photographer isn't going to break the bank. Sure, it's gotten more expensive over the years but it's a (relatively) low risk type of insurance so the premiums would be lower. It's also not
required for a photographer to have insurance whereas it is required for an attorney or a doctor to have some type(s) of insurance.
In short, I totally understand why the
real pros are upset about how others price their work. Unfortunately, the barrier to entry in photography is much lower than for being a doctor or an attorney so this problem will only get worse. Although you
should have better equipment, many do not. I've seen some, "photographers,"--who are earning money, btw--using some basic (and I do mean BASIC) consumer gear. Guess what, most customers don't know the difference and, unfortunately, don't care. I'm not talking the $20,000 wedding folks here, just the average customer.
When you're selling photography, you're not selling to another photographer, you're selling to someone who doesn't know any better. If you're providing better pictures than they'd get with a point and shoot--and they don't have the budget for the $20,000 wedding, they'll be perfectly happy with your photos for $1,000 (or whatever). It's not the photographers who don't charge enough you should be angry with, it's the customers who don't believe spending more for better quality is worth it you should be mad at.