How much would you pay for this photo?

[nycphotography]

The $400 limit is the point at which smugmug has to send the IRS a 1099 saying they paid you. But you can make as much money in royalties as you want and have it all reported on 1099, so long as you are not an employee of the payer (ie smugmug). All you need is a SSN.

But I'll repeat... lets worry about making the $400 first. The odds on that one are plenty long enough.

 

[412 Burgh]

Where are you located in Pa. Erie is only about an hour or two north from me!

 

[KmH]

Is Your Hobby a For-Profit Endeavor?

An activity is presumed for profit if it makes a profit in at least three of the last five tax years, including the current year . . .
If an activity is not for profit, losses from that activity may not be used to offset other income. An activity produces a loss when related expenses exceed income. The limit on not-for-profit losses applies to individuals, partnerships, estates, trusts, and S corporations. It does not apply to corporations other than S corporations.

 

[vintagesnaps]

If there's interest being expressed in buying your photos it sounds like a good time to start looking into your state's information about small businesses, taxes, etc. - it might be found on the website for the Secretary of State where you're located. You might need more than your social security number and may need to apply for a license or tax ID number; I think it varies state to state.

You could find resources on the websites of professional photographers organizations like ASMP or PPA. I think ASMP has a formula for determining cost of doing business and suggestions on how to determine your prices.

 

[o hey tyler]

How tha **** much would you pay fo' dis photo?

 

[jamesbjenkins]

But I'll repeat... lets worry about making the $400 first. The odds on that one are plenty long enough.

So, you one of those "glass is half full" kind of guys, eh? :raisedbrow:

 

[gsgary]

I can't believe someone deleted my post

 

[SensePhoto]

Where are you located in Pa. Erie is only about an hour or two north from me!

I live in Erie.

 

[SensePhoto]

I think this post went off tangent but to throw my 2cents in; I get paid by google monthly for my YouTube channel and since its more than $400/year it was considered to be "self employed" income and i had to claim it on my taxes. No federal tax ID needed, any untaxed annual income in my state thats over $400 needs to be claimed. As far my original question I guess i'll just have to wing it and see what price feels right.

 

[Tailgunner]

As far my original question I guess i'll just have to wing it and see what price feels right.

Thats all you really can do. I would print up some quality common sizes (4x6, 5x7, 8x10, 11x14, 16x20) and put a price you feel good about and have them at the ready the next time someone mentions buying a print from you.

 

[Pascal020]

Maybe a tip, sell exclusive licenses (you keep ownership) People love exclusive stuff. I would pay $150 - $200 for exclusive photo's. The internet is full with free quality (public domain) photo's. Not a good thing for photography market i think.