A&P anyone here a legitimate business?

Discussion in 'Lifestyle' started by jared_IRL, Feb 1, 2009.

  1. jared_IRL

    jared_IRL OT Supporter

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    Considering either going LLC or INC with 32 Counties... Lots of questions....

    Mainly, how did you arrive at the point that you needed to make the jump from freelance to official, what type did you choose, info on grants/low interest loans/start up capital, etc....

    Or are we all just operating out of our own pockets here?
     
  2. wizeguy4

    wizeguy4 New Member

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    sole proprieters, I would assume is what lurks around here
     
  3. alexromo

    alexromo New Member

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    will get into LLC as soon as i need to

    would be nice to separate myself from the business for liability and financial purposes
     
  4. Girth

    Girth ¯\_(ツ)_/¯ OT Supporter

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    Wife and I are going to do a LLC sooner or later. Trassani Weddings LLC. Then, we're going to take over the world... :noes:
     
  5. BUCE

    BUCE what the fuck is the internet?

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    :io:
    looking into this as well
     
  6. brasheye

    brasheye Rotary Crew

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    I am but have two jobs

    Engineering > Photography when it comes to $$$

    other way around for fun factor though :wtc:
     
  7. Sympathy

    Sympathy OT Supporter

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    LLC or a S corp.
     
  8. vwpilot

    vwpilot New Member

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    Just a sole proprietorship. Unless you feel you need the protection of an LLC or INC, no real reason to do it. 100% of my business is done under an SP including business lines of credit, etc.
     
  9. Astro

    Astro Code Monkey

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    Sole proprietorship: TONS of liability (if doing business out of your house, the house could be lost if sued). Easy and cheap to start up.

    Corporation: more paperwork and typically higher startup costs. Failure to do the proper paperwork or separate the business from the personal, liability could fall back to sole proprietor. If done and managed right, offers a lot of liability protection.

    LLC: Typically a little too new in the courts to fully determine liability. Cheaper to start up than a corp. I believe you can go from LLC to a corp. I believe you can not go from a corp to an LLC without shutting down the corp.

    Personally, I like the idea of having something low maintenance and cheap but offers some protection if something horrible was to happen, hence LLC. I've got an LLC with a friend of mine and it has worked out pretty nicely. Note, the LLC we have is for an internet/consulting business and not photography.

    Interesting problem with going international. I would think the corporation would be the ultimate way to go. LLC might be do-able, but you might need to get a lawyer involved to determine what will be best.
     
    Last edited: Feb 2, 2009
  10. EWhytsell

    EWhytsell New Member

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    Your a photographer and as such your clients are likely only entitled to replacement of film and at the most a refund of their cost to hire you. Well at least in Ohio (though refund isn't something they could really wrestle out of you due to our "mechanics lien law.")

    Basically unless they hired you for like 50,000 or something ridiculous then you ain't gonna lose any property over a job.

    Only case where that would happen is if your so bad at managing your finances that you lose it to your own stupidity. In that case an LLC couldn't help you anything because it just creates a "first" layer to get through before they get to your private property. Worse case on your home is that you'd use equity to repay their damages, but thats no big deal to a responsible person and any responsible business owner would have insurance to cover any real problems anyway.
     
  11. vwpilot

    vwpilot New Member

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    Not true at all, there are a lot of things that could cause you to lose your house, etc.

    If you have a studio in your house, it could be something as simple as the person falling or tripping over a rug and getting hurt. They can then sue you and your business and personal property are not separated under a SP.

    If you work on site, what if someone knocks a running strobe over and it hits the model in the face and disfigures her with burns? She can sue for injuries and the loss of income she might have gained from modeling. You will be sued significantly for something like that. What if you're shooting a very expensive car and you damage it?

    There are all kinds of things you cant plan for.

    HOWEVER, any SP worth their salt, also carries liability protection. I carry 2 million dollars worth and that covers me for almost anything that can happen short of me causing an accidental death or something of that nature. More may be on the horizon in the near future just to be safe.

    Its worth considering. Not too long ago an SI shooter dropped his 600mm lens off the roof of a place he was working. It fell and barely grazed a fan at the game. Luckily it didnt fall right on him or it would have probably killed him. Regardless, he had injuries and sued the photographer and SI for serious damages for their negligence.

    Its a real thing to consider and should not be assumed you're OK, lots of things can happen.

    Just have good insurance for the business regardless of how its set up.
     
  12. hurleyint1386

    hurleyint1386 Someone has sand in their vagina

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    I do DBA for any kind of freelance stuff I have. Don't really need to worry about LLC or anything for right now.
     
  13. IntheWorks

    IntheWorks windin film.. takin pics Moderator

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    I will eventually set up an LLC... mainly because I want to separate my business assets from my personal. Like if a guest at a wedding was to trip over a light stand, the last thing I want is for them to sue me and lose my house. Also, another thing to look into is business liability insurance.
     
  14. adamlewis88

    adamlewis88 New Member

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    Do NOT set up an SP.
     
  15. vwpilot

    vwpilot New Member

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    No problem with an SP if you know how it works and what the pros and cons are. You'll find a hell of a lot of people working under an SP for many years without problems. Dont be afraid of it, just know what it is and how it works.
     

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