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-   -   What kind of business do you register as to get the best benefits? (https://www.dvinfo.net/forum/wedding-event-videography-techniques/99608-what-kind-business-do-you-register-get-best-benefits.html)

Trent Watts July 23rd, 2007 07:14 PM
What kind of business do you register as to get the best benefits?
 
I'm trying to get a lot of tax deductions for the equipment I buy and list them as business expenses. I know the tax laws are much better for business owners than freelance artists. I was thinking of doing the Limited Liability Company (LLC). Anyone got any suggestions? (I live in Virginia, USA)

Don Bloom July 23rd, 2007 09:23 PM
talk to a lawyer and an accountant. They know far more than we do about stuff like that.

Don

Jon McGuffin July 23rd, 2007 09:54 PM
Quote:
Originally Posted by Trent Watts (Post 717431)
I'm trying to get a lot of tax deductions for the equipment I buy and list them as business expenses. I know the tax laws are much better for business owners than freelance artists. I was thinking of doing the Limited Liability Company (LLC). Anyone got any suggestions? (I live in Virginia, USA)
A freelance artist is a business owner.

Mark Bournes July 24th, 2007 06:13 AM
My accountant had me register as an LLC over incorporating. He explained it was a little more beneficial for me, but I think it depends on your personal situation. Other jobs, spouses income and so on when filing your taxes.

I'm not sure of the exact reasons, that's why I have a trusted accountant.
VERY IMPORTANT. My expertise is video production, that's why I hire someone who knows the tax laws and benefits, well worth the $$$.


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