Professional Tax and Accounting Services

We take care of the financial nitty-gritty, freeing up your time to focus on what you do best. During the setup process, we thoroughly examine all sources of business income, including CRMs like HoneyBook, Tave, Dubsado, 17Hats, etc., and galleries. We establish a systematic approach for accurately capturing income each month. Additionally, we ensure that all income is retained earnings recorded correctly and any sales tax obligations are tracked. Unlike your parents’ accountant or the average CPA who might offer generic solutions, we provide tailored support. Your goals, challenges, and aspirations are at the forefront of our approach, ensuring our services align seamlessly with your individual needs.

• The new Accounting Software from FreshBooks helps photographers like you to spend less time on bookkeeping and more time capturing the perfect shot.
• Try not to think of accounting as a boring, numbers-based practice that only causes frustration.
• You’ll want something that offers double-entry accounting, and, ideally, a full ecosystem of accounting support (versus a cloud provider that only deals with invoicing or payroll, for example).
• Professional photography can involve significant expenses related to equipment, studio space, props, and travel.
• Photography requires a unique combination of artistic talent and technical skill—no need to know accounting on top of all that!

How should a photographer organize a chart of accounts?

• Our expert team will assess your unique needs, providing tailored recommendations and strategies to optimize your financial success.
• Whether you are a freelance photographer or commercial photographer you focus on you craft, so it can be challenging to keep track of your accounting.
• On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.
• Spend more time capturing the right image and less time balancing your books.
• Separate accounts can considerably mitigate any such hassle and smoothly help you with exports and imports through your accounting platform.
• You deserve to be paid promptly for your specialized work, so make it easy and convenient for your clients to pay by including payment options like bank transfers and credit cards.

Yes, the information in a chart of accounts is used to fill out small business tax forms like the Schedule C. A Schedule C (Form 1040) is used to report income or (loss) from a business you operated or a profession you practiced as a sole proprietor. Join over 35,000 US-based business owners who have streamlined their finances and have grown their businesses with Bench. Our team dedicates time to thoroughly comprehend your photography business, respond to your queries, assist you with linking your accounts, and demonstrate how Bench can work for you.

Educate Yourself with Tax Laws and Responsibilities in Business

Know exactly where your accounting is at with accurate accounting software from FreshBooks. See how much money you’re spending on your photography business, and where you’re spending it. Just click on “expense report” to see all your costs, grouped by categories. You can invite team members to collaborate on projects, enter their own hours, and log expenses. The FreshBooks’ dashboard will give you a snapshot of your company’s income and expenses.

Simple, straightforward pricing for everything your business needs.

Running a photography business involves keeping track of expenses, invoices, receipts, and income streams. An accountant can set up a systematic approach to organizing your financial records, making it easier for you to monitor your business’s financial health and plan for the future. Streamline your payroll processes and keep your focus on what matters most.

You can set your account up so that FreshBooks automatically generates and sends invoices to these customers, saving you time. It is a little complex process because it deals with both the receivable and payable accounts. Instead of merely taking cognizance of when cash literally swaps hands, this method connects bookkeeping for photographers revenue with the activity that created it basically. Honestly, each fresh and experienced business owner somehow spends on accounting fabric.

NO MESSY FINANCIALS.

Say goodbye to mounds of receipts and tedious manual tracking – we automate inputs directly from your linked accounts. Get insights from one central dashboard designed for photographers, making it a breeze to understand the financial health of your photography business and make informed strategic decisions. Our commitment doesn’t end after onboarding—it’s just the beginning.

What sets Bastian Accounting apart from Accounting Firms?

In many cases, the photography services are also taxable as long as the service resulted in tangible property. A chart of accounts can give you a clear picture of where your money is going, and will provide you with the necessary information to make informed business decisions in the future. Bench simplifies your small business accounting by combining intuitive software that automates the busywork with real, professional human support.

Book Setup & Compliance Review

While few people do that, it’s best to keep a running Excel file with the clients/locations you visited each month. That way you can come up with a reasonable estimate of your business mileage and can prove it- if anyone asks. As a photographer, you know that accounting and bookkeeping are important aspects of your business.

On the other hand, a liability is any debt or cost that you might owe, such as a bank loan. As much as possible, try to limit your liabilities and build up your tangible and cash assets. Now you have a complete picture of the financial status of your business and are able to know for certain that your books are up-to-date. You have your choice – charge a flat fee for a late payment, or a percentage of the amount you’re owed. You decide in advance https://www.bookstime.com/blog/how-to-do-bookkeeping-for-cleaning-businesses when to charge it, FreshBooks does the calculation and applies the amount for you.