How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Shane-CPA Your Own Question
Shane-CPA
Shane-CPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 265
Experience:  Shane Northrop is a Certified Public Accountant, Personal Financial Specialist and a Chartered Global Management Accountant
71228106
Type Your Tax Question Here...
Shane-CPA is online now
A new question is answered every 9 seconds

I am a very small Independent photographer that over one year

This answer was rated:

I am a very small Independent photographer that over one year as made about 1,500 only. how do I pay taxes

Shane-CPA :

Hello...my name is XXXXX XXXXX I am a Certified Public Accountant. I look forward to helping you with your tax question.

Shane-CPA :

You would be considered self-employed as a sole proprietor. You will claim the income on Schedule C when you file your personal tax return. Any expenses associated with this income would also be included on Schedule C and your tax liability on the business will be based upon the net income.

Customer:

Hi, Shane. As I stated in the question I am a very small independent photographer that over one year has made about 1,500 only. How do I pay taxes and do I need to file?

Customer:

or less not really sure how much. I have do alot of pictures for free!

Shane-CPA :

You would be considered self-employed as a sole proprietor. You will claim the income on Schedule C when you file your personal tax return. Any expenses associated with this income would also be included on Schedule C and your tax liability on the business will be based upon the net income.

Customer:

tax Liability?

Shane-CPA :

meaning...for example...if you made $1,500 in profits....you would pay tax on that amount. However, you may have deductions that would reduce this amount or result in you paying 0 taxes.

Customer:

Oh WoW! Could you explain what possiable deductions might be:) so sorry really green on this

Shane-CPA :

No problem...for the business, expenses could include items such as subscriptions/books for photography, film, editing software, membership dues, office supplies, office rent, utilities, business telephone, etc.

Shane-CPA :

for personal deductions you would have your personal exemption and standard deduction (or itemized deductions if higher)...

Customer:

Oh Ok! so do I have to get a tax id in order to get deductions and do i save reciets too?v Tax ids are expensive and I dont make that much money

Shane-CPA :

No you won't need to get a tax id. As a sole proprietor on Schedule C you will operate using your social security number. You will definitely want to save receipts as these are your evidence to the IRS should you ever be audited that you actually incurred these expenses.

Customer:

OH! OK! good! so do i need to file as a late tax or do it for next year? I dont know?

Shane-CPA :

you will include all of your 2012 income and expenses when filing your personal tax return in 2013. You have until April 15th, 2013, to file your personal tax return and pay any tax, if you owe any tax...

Customer:

ok good! I started on dec. 2012 so I will need to do this for march 2013?

Shane-CPA :

Since you started in 2012, you can file your tax return anytime between January 1st, 2013 and April 15th, 2013.

Customer:

Ok great! just to understand perfectly I go on my personal income tax under section C and regester my little company and see how much I own. than pay it or indicate if I have any expense on it like lighting equipment and props or lens.

Shane-CPA :

Correct...if you use a tax software such as Turbo Tax it will help walk you through where to input your income and expenses by category.

Customer:

great I really was scared that this was going to be really complicated! Thanks Shane Ok thanks again and I think that covers it!:0)

Shane-CPA :

You're very welcome! Thank you for allowing me to assist you. If you are completely satisfied with the service I provided you today, please provide me with positive feedback so that I may receive credit for my response. If you feel exceptional service was provided, bonuses are greatly appreciated. If I can be of further assistance, please let me know. Have a great day!

Customer:

you too!

Shane-CPA :

Thank you =)

Shane-CPA and other Tax Specialists are ready to help you
Hi...This is Shane CPA from Just Answer. I assisted you with your question a few days ago. I wanted to follow up with you to see if my response has met your needs and if there are additional questions I can help you with.

Please let me know if I can be of service to you at any time!

I look forward to hearing from you!

Best Regards,
Shane, CPA

Related Tax Questions