Buddies and Photography

[HowardE]

Very good point howarde. Can't you deduct you camera stuff?

Well... we were figuring that if we start selling Michelle's stills in our store... then she'd be a professional. In which case, all of her equipment would be a business expense, and therefore tax deductable rather than having to take the money as income and pay the tax on it

 

[Cacia]

but very nice people....smart too. handsome, kind..... (canadians)

 

[Cacia]

bingo, howarde. thats what I am trying to do...photo workshops, etc. Good thing I got the big bucks for that Riffe ad. I think you have 5 years to show a profit or something like that.

 

[Diver Dennis]

Now I KNOW you're fibbin' Catherine. Yes, you can use my 8" port....

 

[HowardE]

good point, Howarde!...lets cheat a wee bit.
I think something about the marine's needing armour and stuff....thats whats keepin me honest.

I can't cheat either. I'm just do darn honest really.

I'm like probably the ONLY guy who shops at Sam's club for my business, and actually pays sales tax on the items that are NOT for resale (as you should)

 

[HowardE]

So - If you guys want to sell some prints... Why don't you mat and frame a few good ones, and send them to my store. We'll sell them, and then... Boom! Your a professional (legally that is in the eyes of Uncle Sam)

 

[Diver Dennis]

Might just do that howarde.

 

[HowardE]

Puff has been on my case to send some of Michelle's finest up to him for HQ printing. Then we're gonna see what sells. If they do sell... Maybe the sales could finance future purchases?

 

[Diver Dennis]

That's a good idea howarde. A lot of people would like to buy that stuff and when you have it in the store and framed it makes it easier to sell. Where people would not want to go through the hassle of buying through the internet, they would buy if they could take it with them.

 

[RonFrank]

So - If you guys want to sell some prints... Why don't you mat and frame a few good ones, and send them to my store. We'll sell them, and then... Boom! Your a professional (legally that is in the eyes of Uncle Sam)

Be careful with the whole deduction game. You can only loose money for so long before they will declare the thing a hobby. I think you have to show profit 2 out of five years. There are other ways to continuously loose money and still get away with the deduction, but you best have a good accountant if you are going to call yourself a professional even if you sell a few prints, and never show a profit.

OTOH, maybe you will sell a LOT of prints, and it won't be just a hobby!