Monday, April 16, 2012

Tax Time

I've been so consumed with life and blogging on our renovation (apartment) that I neglect this blog. I tought class today and decided to cover light book keeping and basic tax info for the independent contractor. Once again I sadly realized how neglected this topic goes. Please Please remember....if the INCOME goes into your bank account via check or cash, EVEN if the client does not issue a 1099, you NEED to claim this as income. If a client isn't running their business by the IRS rules this doesn't mean you got off the hook or follow their lead. I've seen this come back to burn many people. The neglect of not paying taxes in their 20's and 30's bites them in the ass in their 40's. Every year I receive IRS and state tax liens for independent contractors that have come thru my operations. Please heed this warning. Do not mess with the IRS.

Friday, August 5, 2011

Deja Vu

Adweek Reports Newstand Sales for 1st half of 2011....Not suprising with the state of the global economy and how much free information is out there. Whether this will pass or if/how magazines will continue to reinvent themselves for previous profit margins is yet to be seen. Further details and previous charts can be found on the original source for these stats MagNet

Sunday, June 19, 2011

The Concept of Success

2009 Professional Photographer Income US and NY 

While perusing the news this morning I was led to some useful tools to look at the projections of various careers. You too may want to browse around to view details such as fastest growing careers and other stats for most professions at this government-sponsored site, acinet.org.

The Bureau of Labor Statistics provides detailed information on their website. Here is the JOB OUTLOOK for Photographers from the Bureau's site.

Whereas Commercial and Editorial photography may pose stiffer competition (it always has), it doesn't mean one can't use the tools of their trade to generate a solid income along with an enjoyable, creative work life. It all comes down to one's perception and concept of success. This quote from Conan O'Brien's commencement speech given to Dartmouth's 2011 Graduation Class resonated with me (and may for many creative types):


"It is our failure to become our perceived ideal that ultimately defines us and makes us unique - it's not easy," he acknowledged. "But if you accept your misfortune and handle it right, your perceived failure can become a catalyst for profound reinvention."

Saturday, June 11, 2011

WAKE UP!!!

I'm beginning to think many of the freelancers young and not so young
are uninsured by sheer LAZINESS. It seems more often that not that they are
missing one if not all of the policies a Freelance photographer, artist, musician, (most independent contractors) should be holding.
Medical...YES it's expensive...but to not hold a catastrophe policy? Mind you,
almost all of the people I've encounter would experience tremendous hardship if they
were to get injured and did not have appropriate coverage. (or they would put a heavy
burden on their family).
Sure if they're injured on the job MAYBE the people they're working for have a Workers Comp policy and
could take them to the hospital to attend to their injuries....but that's all it will do.
It won't pay your bills if you're out of work for a year...or more.(insert Disability Policy HERE!!)
While I'm on that topic I must say I as well know one too many Professional Photographers and other Creative types who are hiring the uninsured that don't have proper insurance themselves (Workers Comp,Liability/Auto).
Sure a lawsuit could ensue, however, I wouldn't wish that stress upon anyone. And who is to say that person that hired you has a pot to piss in to sue them for.
What's amazing is that these Professionals often don't read the contracts they sign
indemnifying the Company they are working for. These Company's are the smart ones
looking out for their best interest and I think it's about time more assistants/crew and
"Professional" Photographers/Artists Etc... begin doing the same.
It all seems so basic and obvious however 9 times out of 10 when I ask people about
their coverage, there is a quiet head hanging. However there is no shame in their excited discriptions of their recent vacation or where they went out to eat last night....