Come join us for a fun filled evening and get all your tax questions answered. We will have pizza for fuel and you will walk away from this event with all your important tax questions answered. It’s important to keep detailed records of all these expenses as they can significantly lower your taxable income.

• In this comprehensive guide to accounting for photographers, you’ll get the information you need to set up your business for accounting success.
• Next, we ensure compliance by reviewing your sales tax situation and any contractor payments.
• Is a small Certified Public Accounting firm located in Cornwall, New York, that offers professional tax and accounting services to both business and individual clients.
• You can count on Core Group to be your partner in financial success, starting with a seamless onboarding experience tailored just for you.
• In your photography business, assets include anything you own outright.
• Here at Bench, we combine user-friendly software with a team of bookkeeping professionals to streamline your finances in a way that has never been done before.
• When you hire us, you will be treated with care during every step of the process.

Protect your money

And financial statements are a snap – one click and FreshBooks will generate your company’s general ledger or a host of other reports. To minimize your risk of an audit, keep your tax returns as simple as possible. Accounting software is always helpful in these situations as well as keeping very organized and concise records regarding your photography business and expenses. Founded in November 2010, Wave provides integrated online applications that help small business owners around the world run their businesses.

• Instead of focusing on when cash actually exchanges hands, this method pairs revenue with the action that generated it in the first place.
• FreshBooks will send polite late payment reminders to your clients.
• An invoice is a way to communicate your skills and professionalism.
• Managing your books and staying on top of your finances will be a breeze with the right accounting software.
• We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end.
• Want the ability to connect to over 700 apps, including PayPal, Square, and Stripe?

MORE TIME FOR CREATIVITY.

Quickbooks is the top accounting software on the market, regardless of your industry, and for good reason. You can track inventory and build income statement custom financial reports through Quickbooks, as well. It’s also easy to access on your desktop or smartphone and gives you an up to date overview of your business activities, so you’re always on top of your finances. With so many accounting features, Sprout Studio is a photography management tool that covers your financial needs, too.

• An accountant can help you track these expenses efficiently, ensuring that you stay within your budget and identify areas where you can save.
• Our team of experts is familiar with photography industry tax regulations and will tailor their approach to your photography business’s distinct requirements.
• Experience in accounting is utterly important for settling your financial tasks.
• Deciding between outsourced and in-house bookkeeping is a pivotal choice for small businesses aiming to streamline their operations and manage finances efficiently.
• This cloud-based software is made for photographers on the go, and does all the math for you, with features like expense tracking, invoicing, estimates, and financial reports.

Meet The Team

Our team is ready to learn about your business and guide you to the right solution. Our founder, Tiffany Bastian, possesses an MBA in accounting and is an IRS-certified EA (Enrolled Agent) with over two decades of experience. Tiffany established Bastian Accounting with the aim of bringing financial clarity and assurance to photographers across the United States. Whether you’re starting or growing your photography business, I’m excited to be your partner on this journey. Let’s navigate the financial landscape with clarity, confidence, and calm. If you’re not currently sales tax compliant, we can assist you with a state Voluntary Disclosure Agreement (VDA) to bring you up to date and minimize penalties.

FreshBooks is available online for both PCs and Macs, as well as through our mobile app on Google Play or iTunes. The FreshBooks’ desktop accounting software will sync automatically with the app, so you can access your small business finances from anywhere in the world. We offer a number of different accounting packages to choose from, with competitive pricing. You’ll never lose track of an invoice again with our easy to navigate website.

Sprout Studio

If you’re photographing clients https://www.bookstime.com/blog/time-is-money all over the city, keep track of every gas, insurance, and maintenance receipt. The CRA and IRS have a standard mileage rate that you can use to calculate your total travel costs. Officially you’re required to keep a logbook of the business mileage you’ve clocked.

Cash accounting sees revenue and expenses when money changes hands while accrual accounting only recognizes the revenue when it is earned and when the expenses are billed and not paid. With 650,000 users and counting, Wave is signing up tens of thousands of small business customers each month, and currently tracks almost $80 billion in small business income and spending. Credits are great for increasing income and decreasing expenses, but not bookkeeping for photographers so great when they increase liabilities and decrease assets. Like debits, there are pros and cons to credits, depending on where you move your money. Maybe it’s cash on hand or your Nikon D3100; if you own it, then it’s an asset!