Approve the Cookies
This website uses cookies to improve your user experience. By using this site, you agree to our use of cookies and our Privacy Policy.
OK
Index  •   • New posts  •   • RTAT  •   • 'Best of'  •   • Gallery  •   • Gear  •   • Reviews
Guest
New posts  •   • RTAT  •   • 'Best of'  •   • Gallery  •   • Gear  •   • Reviews
Register to forums    Log in

 
FORUMS Post Processing, Marketing & Presenting Photos The Business of Photography 
Thread started 02 Sep 2016 (Friday) 12:32
Search threadPrev/next
sponsored links
(this ad will go away when you log in as a registered member)

Any commercial guys ever do a retainer?

 
Foodguy
Goldmember
Avatar
1,323 posts
Likes: 211
Joined Mar 2012
Location: Having too much fun in the studio
     
Sep 02, 2016 12:32 |  #1

Just curious...I have a client that has a bunch of co-op money they're looking to move before the end of the year and has suggested that I bill them for 2 as yet unscheduled projects. Dire Straits 'Money for nuthin...' comes to mind :-D

I've specified the parameters of what this pre-payment/retainer will cover as well as a timeframe in which the projects need to be completed by, but inasmuch as I'm not a lawyer and don't want to necessarily involve one- just wondering if anyone else has done anything similar or if there are pitfalls that I haven't considered?


My answer for most photography questions: "it depends...'

  
  LOG IN TO REPLY
sponsored links
(this ad will go away when you log in as a registered member)
Scott ­ Spellman
Member
203 posts
Gallery: 2 photos
Likes: 122
Joined Oct 2015
Location: Royal Oak MI
     
Sep 02, 2016 15:23 |  #2

Talk with your accountant about the timing, income, and tax consequences of the retainer if the work may not be completed in your accounting calendar year.




  
  LOG IN TO REPLY
Left ­ Handed ­ Brisket
That's my line!
Avatar
9,416 posts
Gallery: 12 photos
Likes: 2109
Joined Jun 2011
Location: The Uwharrie Mts, NC
     
Sep 02, 2016 15:42 |  #3

What Scott said is about the only issue I can imagine coming up, and that should be pretty cut and dried.

Have a solid contract in place to keep them from deciding they don't want you to do the work and want their money back. Wedding photographers work with retainers all the time, or should. Difference being a "deposit" is not as legally binding.*

.


.


.


.


.


.


.


.



* I am not a lawyer, nor do i play one on TV. I also did not stay at a Holiday Inn Express last night.


PSA: The above post may contain sarcasm, reply at your own risk | Not in gear database: Auto Sears 50mm 2.0 / 3x CL-360, Nikon SB-28, SunPak auto 322 D, Minolta 20

  
  LOG IN TO REPLY
Foodguy
THREAD ­ STARTER
Goldmember
Avatar
1,323 posts
Likes: 211
Joined Mar 2012
Location: Having too much fun in the studio
     
Sep 02, 2016 16:12 |  #4

Good advice guys, thanks.

I work on a 'cash' basis, so assumed that the moment I deposit the check, it';s counted as normal income. Worth checking though, and LHB, we've written a pretty complete contract which they've signed providing for all of the details covering all the normal aspects of a project in addition to timeframes and basically a no refund policy regarding the upfront payment, in the event that they don't adhere to the terms. Never even thought of it in terms of a deposit type arrangement that the wedding people do regularly.

It's interesting as the money is from a large manufacturer/supplier and the terms are basically that if my client doesn't spend it, it goes back. Client is changing to a different brand at the end of the year so is anxious to move the funds out of their account. IOW, they've been very agreeable to anything we've had to say as far as 'terms'.


My answer for most photography questions: "it depends...'

  
  LOG IN TO REPLY
kjonnnn
Goldmember
1,204 posts
Likes: 86
Joined Apr 2005
Location: Chicago, Illinois
     
Sep 02, 2016 16:42 |  #5

Deposit vs Retainer.

http://www.legalphotop​ro.com …-l-law-for-photographers/ (external link).

And she is an attorney




  
  LOG IN TO REPLY
kjonnnn
Goldmember
1,204 posts
Likes: 86
Joined Apr 2005
Location: Chicago, Illinois
     
Sep 02, 2016 16:49 as a reply to  @ Foodguy's post |  #6

If you havent completed the job when you accept the cash, its unearned income for bookkeeping/accounting purposes. Really any business should be on a accrual basis.




  
  LOG IN TO REPLY
Foodguy
THREAD ­ STARTER
Goldmember
Avatar
1,323 posts
Likes: 211
Joined Mar 2012
Location: Having too much fun in the studio
     
Sep 02, 2016 17:24 |  #7

^ Great additional input. Interesting read...thanks. Maybe it is worth getting the lawyer involved.

fwiw, I've been on a cash basis since my accountant originally set me up many years ago.


My answer for most photography questions: "it depends...'

  
  LOG IN TO REPLY
amairphoto
Cream of the Crop
Avatar
6,809 posts
Gallery: 42 photos
Best ofs: 3
Likes: 3718
Joined Aug 2007
Location: Las Vegas
     
Jun 03, 2017 23:28 |  #8

I have a retainer with a magazine. I love it, the work stays constant as do the checks. I only wish I had more.


My Website: http://www.amairphoto.​com (external link)
flickr (external link)

  
  LOG IN TO REPLY
Foodguy
THREAD ­ STARTER
Goldmember
Avatar
1,323 posts
Likes: 211
Joined Mar 2012
Location: Having too much fun in the studio
     
Jun 04, 2017 08:21 |  #9

DonJuanMair wrote in post #18370396 (external link)
I have a retainer with a magazine. I love it, the work stays constant as do the checks. I only wish I had more.

Thanks for the input-

For those keeping score; the client did send a check, pre-paying for 7 days worth of photography: creative fees/stylists/assistan​ts/digital tech and estimated usage. So far we've fulfilled 4 of the 7 days and hopefully will finish with this by summer's end. The only real issue that I've encountered with this arrangement is that the original money is now long gone and I'm anxious to fulfill the obligation. All in all I think I prefer to bill at the completion of the project instead of feeling like I owe this particular client time and while realistically it's probably all the same thing in the end, the anticipation of the income seems more alluring than getting it in advance...if that makes any sense!


My answer for most photography questions: "it depends...'

  
  LOG IN TO REPLY
sponsored links
(this ad will go away when you log in as a registered member)

2,574 views & 2 likes for this thread
Any commercial guys ever do a retainer?
FORUMS Post Processing, Marketing & Presenting Photos The Business of Photography 
AAA
x 1600
y 1600

Jump to forum...   •  Rules   •  Index   •  New posts   •  RTAT   •  'Best of'   •  Gallery   •  Gear   •  Reviews   •  Member list   •  Polls   •  Image rules   •  Search   •  Password reset

Not a member yet?
Register to forums
Registered members may log in to forums and access all the features: full search, image upload, follow forums, own gear list and ratings, likes, more forums, private messaging, thread follow, notifications, own gallery, all settings, view hosted photos, own reviews, see more and do more... and all is free. Don't be a stranger - register now and start posting!


COOKIES DISCLAIMER: This website uses cookies to improve your user experience. By using this site, you agree to our use of cookies and to our privacy policy.
Privacy policy and cookie usage info.


POWERED BY AMASS forum software 2.1forum software
version 2.1 /
code and design
by Pekka Saarinen ©
for photography-on-the.net

Latest registered member is Photoncatch
827 guests, 286 members online
Simultaneous users record so far is 15144, that happened on Nov 22, 2018

Photography-on-the.net Digital Photography Forums is the website for photographers and all who love great photos, camera and post processing techniques, gear talk, discussion and sharing. Professionals, hobbyists, newbies and those who don't even own a camera -- all are welcome regardless of skill, favourite brand, gear, gender or age. Registering and usage is free.