New photo business in NYS - need help

Started Feb 20, 2013 | Questions thread
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PGSONY
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New photo business in NYS - need help
Feb 20, 2013

Hi All,

I am sorry if I am asking a question that's been asked before. I just need some specific answers - but I'm unable to get anyone on the phone from the IRS to help me out.

I am starting a small photography business.  I dont have income right now but I want to know what I am supposed to do from the very beginning, and this way I can also benefit by working with professional labs.

I registered for an LLC yesterday - it said I should have a response in a day, still waiting to hear back.  My questions are:

1.  Will my my LLC # be my fedral tax id #? Or do I need to apply for one? Is this required and why? I knwo its required for opening a bank acct.. but is this needed to file my taxes?

2.  I know I have to file for a state tax id to buy/sell albums.  I believe I have to file a form called "authority to collect sales tax" to get a tax ID, correct? Do I also need to file for a resellers certificate or will this state id # serve the same purpose?

3. How do you tax? If I charge someone lets say $100 for a photoshoot and give them the photos on a dvd, do I charge them tax on the $100? Also, what if I am giving them a package, lets say 300 for the shoot and another 300 for the album and the album costs me 100, do I tax them for the $600? and show my profits of 500 when filing taxes?

4. This tax that I am charging clients - how do I actually send it to the govt? Do I file a quarterly form? Are there fees involved? What if I don't earn anything right now, do I still have to file it?

5.  I got my camera equipment last year, prior to registering my business. Can I deduct this as business expenses for 2012?

Thanks in advance for any help!!

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