To Register or Not to Register?

[mjhoward]

For instance, if I only make a little bit of money in one year and my tax fees for all the forms cost more than what I made.. that would put me in the red.

There arn't really a lot of additional tax forms if you start your business as a Sole Proprietorship LLC. Your DoR will send you out a form to report your revenue/collected taxes every quarter (can sometimes be monthly or yearly). You just fill out the form and send it back. At the end of the year, you'll receive a 1099 (I think this is the form #) and you'll put the appropriate information in Schedule C on your personal Form 1040 along with your usual tax info. So basically it boils down to your accountant/tax person will only have to add a $ figure to Schedule C.

Other expenses include your business registration fee or articles of organization fee (for KY it was $40) and your annual reporting fees (for KY $15).

Did you read through any of the link I gave you?

 

[Kokennut]

Yes I have been reading! Thank you so much for the help! There's a whole lot more than I thought when it comes to starting a business. I've got a lot to do ahead of me! But I'm sure after I do this, good things will happen for sure. I really appreciate the help and advice!

-Ken

For instance, if I only make a little bit of money in one year and my tax fees for all the forms cost more than what I made.. that would put me in the red.

There arn't really a lot of additional tax forms if you start your business as a Sole Proprietorship LLC. Your DoR will send you out a form to report your revenue/collected taxes every quarter (can sometimes be monthly or yearly). You just fill out the form and send it back. At the end of the year, you'll receive a 1099 (I think this is the form #) and you'll put the appropriate information in Schedule C on your personal Form 1040 along with your usual tax info. So basically it boils down to your accountant/tax person will only have to add a $ figure to Schedule C.

Other expenses include your business registration fee or articles of organization fee (for KY it was $40) and your annual reporting fees (for KY $15).

Did you read through any of the link I gave you?

 

[radiorickm]

There is no downside to operating a registered business.

This is not necessarily true. I am at a moral delema whether I want to (Create) my new photography business. Once you begin advertising your services, you are legally obligated to some things by federal law.

Lets say for instance (and this is JUST an example) that a Gay couple of 2 men come in and request your services to photograph their wedding. You are morally, religiously, and ethically opposed to this and you say you are not interested. If that is the reason, then you are in violation of Federal law. I would like to be able to choose my clients. I don't like the federal government telling me I have to do this. SO, I can continue to enjoy my hobby by doing these things for free, and not advertising etc.... and have my choice.

There is good and bad to everything.

 

[12sndsgood]

There is no downside to operating a registered business.

This is not necessarily true. I am at a moral delema whether I want to (Create) my new photography business. Once you begin advertising your services, you are legally obligated to some things by federal law.

Lets say for instance (and this is JUST an example) that a Gay couple of 2 men come in and request your services to photograph their wedding. You are morally, religiously, and ethically opposed to this and you say you are not interested. If that is the reason, then you are in violation of Federal law. I would like to be able to choose my clients. I don't like the federal government telling me I have to do this. SO, I can continue to enjoy my hobby by doing these things for free, and not advertising etc.... and have my choice.

There is good and bad to everything.

noticed when you said gay couple you called out 2 men. does that mean if it was 2 women you'd be down to take there photos lol.

 

[tirediron]

There is no downside to operating a registered business.

This is not necessarily true. I am at a moral delema whether I want to (Create) my new photography business. Once you begin advertising your services, you are legally obligated to some things by federal law.

Lets say for instance (and this is JUST an example) that a Gay couple of 2 men come in and request your services to photograph their wedding. You are morally, religiously, and ethically opposed to this and you say you are not interested. If that is the reason, then you are in violation of Federal law. I would like to be able to choose my clients. I don't like the federal government telling me I have to do this. SO, I can continue to enjoy my hobby by doing these things for free, and not advertising etc.... and have my choice.

There is good and bad to everything.

Agree totally. Let me rephrase: If you're going to charge, then there is no downside. If you want to use your skills to help out friends and family, etc and all you take in return is costs and the odd free dinner, great. If you're going to charge however...

 

[Bitter Jeweler]

There is no downside to operating a registered business.

This is not necessarily true. I am at a moral delema whether I want to (Create) my new photography business. Once you begin advertising your services, you are legally obligated to some things by federal law.

Lets say for instance (and this is JUST an example) that a Gay couple of 2 men come in and request your services to photograph their wedding. You are morally, religiously, and ethically opposed to this and you say you are not interested. If that is the reason, then you are in violation of Federal law. I would like to be able to choose my clients. I don't like the federal government telling me I have to do this. SO, I can continue to enjoy my hobby by doing these things for free, and not advertising etc.... and have my choice.

There is good and bad to everything.

You should probably stay off the internets. There's tons of gay on the internets.

 

[o hey tyler]

You are morally, religiously, and ethically opposed to this and you say you are not interested. If that is the reason, then you are in violation of Federal law. I would like to be able to choose my clients. I don't like the federal government telling me I have to do this. SO, I can continue to enjoy my hobby by doing these things for free, and not advertising etc.... and have my choice.

There is good and bad to everything.

It's depressing that you'd even use that as an example.

Although, California had a huge win the other day. Someone could probably move out there and corner the gay wedding photography market... If they weren't opposed to it because some incorrectly interpreted ancient scripture told them to be.

 

[Bitter Jeweler]

Well truth be told, I have a duplex I don't rent out because I can't discriminate against bigoted, religious, pro life, republicans, with children.
So I have no room to talk.

 

[Christie Photo]

There is no downside to operating a registered business.

This is not necessarily true. I am at a moral delema whether I want to (Create) my new photography business. Once you begin advertising your services, you are legally obligated to some things by federal law.

Lets say for instance (and this is JUST an example) that a Gay couple of 2 men come in and request your services to photograph their wedding. You are morally, religiously, and ethically opposed to this and you say you are not interested. If that is the reason, then you are in violation of Federal law. I would like to be able to choose my clients. I don't like the federal government telling me I have to do this. SO, I can continue to enjoy my hobby by doing these things for free, and not advertising etc.... and have my choice.

There is good and bad to everything.

Wow.

 

[Kokennut]

I totally understand... and that's a great point you have there. Even though there is a lot of talk about Gay marriage in the news, it doesn't necessarily mean that most of the nation is as understanding about the issue. I thought that California would have been a clear front runner for gay rights, but sometimes we forget that the San Francisco Bay Area is just a small pocket in a large state. Even more surprising, there's not a lot of people who approve of gay marriage in the Bay Area. So there will be some discrimination and apprehension to the idea of two men or two women having a ceremony anywhere you go for now. I think that example is quite valid Radiorickm. But can't you still have a choice even though you have your own business? I hear people telling others to get out of their stores all the time.

There is no downside to operating a registered business.

This is not necessarily true. I am at a moral delema whether I want to (Create) my new photography business. Once you begin advertising your services, you are legally obligated to some things by federal law.

Lets say for instance (and this is JUST an example) that a Gay couple of 2 men come in and request your services to photograph their wedding. You are morally, religiously, and ethically opposed to this and you say you are not interested. If that is the reason, then you are in violation of Federal law. I would like to be able to choose my clients. I don't like the federal government telling me I have to do this. SO, I can continue to enjoy my hobby by doing these things for free, and not advertising etc.... and have my choice.

There is good and bad to everything.

 

[Bitter Jeweler]

But can't you still have a choice even though you have your own business? I hear people telling others to get out of their stores all the time.

Can you do the same for blacks, latinos, women...

It's ****ing discrimination. Period.

 

[Christie Photo]

But can't you still have a choice even though you have your own business? I hear people telling others to get out of their stores all the time.

Can you do the same for blacks, latinos, women...

It's ****ing discrimination. Period.

Agreed.

But, yeah... one CAN turn away gays, blacks, etc., probably without fear of any sort of government or legal retribution. And eventually, NO gays or blacks and so on will call on you. Nor will anyone like Bitter and myself and the millions who find this to be a sad, ignorant, disgusting way to conduct business... or live one's life.

-Pete

BTW, Bitter... I'm religious, pro life, republican, with children, but not so much a bigot. Any room at the inn?

 

[Bitter Jeweler]

BTW, Bitter... I'm religious, pro life, republican, with children, but not so much a bigot. Any room at the inn?

hahaha...no!
Actually it's the children part. I live in the duplex, and was misinformed by my elders that urged me into buying a duplex...what a great investment they are...yeah, maybe 30 years ago. I was told that things are different when you are owner/occupied. Until I talked to a lawyer. ALWAYS TALK TO A LAWYER!!! So, yeah, the lower unit has been vacant for 7 years. But now I have a guy who was down on his luck living there for free in exchange for renovating it. And when it's done, it'll go on the market. I'm out!

Sorry, I am not fond of children. It's been bad enough with the neighbors kids, riding their big wheels in my driveway and ramming into my garage door. They've used my my water and sprinkler to play in on hot days. In my yard even! It's not just the kids that are to blame. It's the parents too. So I said to myself, yeah, no thanks.

And no, I don't exclude people from my life for opposing views. Well, unless you say things like "the only reason I won't start a business is because I can't discriminate". :er:


I want to add, I realize how hypocrital that sounds, but understand it's not the kid thing that was my decision not to rent. It was the drive by shootings, gang wars in my neighborhood, drug dealing, and the realization I am not cut out to be a landlord. The last bit was the big thing.

 

[Kokennut]

It's tough being any one these days. <sigh> well... it seems to be getting better.... little by little. I only turn people away who are rude. But I getting back to the topic, It seems like there's no real major down side to creating a business.

 

[Christie Photo]

I want to add, I realize how hypocrital that sounds, but understand it's not the kid thing that was my decision not to rent. It was the drive by shootings, gang wars in my neighborhood, drug dealing, and the realization I am not cut out to be a landlord. The last bit was the big thing.

Umm.. did you shoot these? Is this the view from you window?

-Pete




For the record: My kids are grown and long gone. The babies turn 33 this year.