Setting up business is so super important! We need to make sure you’re on the right path!
Biz 101 Checklist
Here is a superficial business checklist to get you on the path to getting your business set up properly!
- Choose a name – Make sure you’re not violating any Federal or State trademarks, as well as ensuring your name is available. Don’t want to get kicked out of business for a mere issue with name. Sometimes adding “photography” to the end of your name requires a submission of legal form!!
- Choose a structure (Sole Proprietor, LLC, Corp) – You can choose from Sole Proprietor, LLC, C Corp, S corp and Partnership structures. Choose the one that fits your plan – not just what everyone else is doing! (See Why should photographers care about business entity formation?)
- Make the appropriate tax elections with the IRS (if applicable) – You could be saving more money on your Income Taxes through special elections – be sure you’re doing it! (See more on Taxes here)
- Get your sales tax permit – Remit your sales taxes if applicable and be sure you know WHAT products and/or services to charge on. Careful if you’re doing all-inclusive collections without breaking out sales tax that may be a state law no-no!
- Get other appropriate license and permits for your jurisdiction – Don’t get shut down for simply not getting the right licenses and permits for shooting. Licenses can include extra business licenses on top of your formation. Permits can be for specific shooting areas (see Shooting on Private Property)
- Set up your EIN and Employer account (if applicable) – Make sure you’re in line with the IRS and State law requirements – get these down!
- Use the right photography contracts to protect your business – Are you using the right business forms for your business? You need to make sure you have a contract for EVERY session, model release to publish (See these model release articles), print release (See this print release article), and other forms you can find listed here!
- Get the right insurance – There are approximately SIX types to choose from! (See Insurance Article here)
- Set up your budget and retirement savings – Every business needs a budget and appropriate retirement savings. Get these accounts set up!
- Get an appropriate price list – Make sure you’re actually pricing for success – don’t just fly by the seat of your pants! (See Top 9 Pricing and Sales Tips for your Photography Business)
Don’t forget you also need the appropriate web presence, client management, and other aspects to drive your business to success!
Need more help?
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