Tax Information
How To Find A Photography Tax Advisor
Tax Tip! If you are unable to pay a tax debt in full, if the taxpayer establishes to the satisfaction of the IRS that he either: has no means of paying the tax, or does not actually owe the tax--and an installment agreement cannot be worked out--the IRS strives to resolve the taxpayer's tax debt.
Looking for a photography tax professional knowledgeable in the area of intellectual properties? Some people mistakenly think they can turn to a neighbor, or Uncle Jim, or that retired bookkeeper down the block, who is "good at taxes." The price might be right, but for photographers who go this route, it costs them in the long run. Moreover, they're opening their checkbook to educate this tax-help person, since the average tax accountant or CPA seldom deals with intellectual properties, if at all.
The aim is to save on your taxes, not to just pay them. ("To evade taxes is illegal, to avoid is your constitutional right!")
You want a photography tax adviser experienced in intellectual properties, who will show you how to apply for and get the write-offs (deductions) that are due you as a working photographer. A tax accountant experienced in intellectual properties may not be easy to locate in your local neighborhood. But here is a simple method to find one. Check around your community and find several successful creative persons who are doing well in their business: musicians, filmmakers, software developers, artists, songwriters, photographers, etc.
Tax Tip! A tax loophole is something that benefits the other guy. If it benefits you, it is tax reform.
Call each one and ask who they use for their accounting and tax work. After awhile, the same name will keep cropping up. He is your man (or woman).
Rohn Engh is director of PhotoSource International and publisher of PhotoStockNotes. Pine Lake Farm, 1910 35th Road, Osceola, WI 54020 USA. 1 800 624 0266; E-mail: info@photosource.com . Fax: 1 715 248 7394. Web site: http://www.photosource.com
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