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FORUMS Post Processing, Marketing & Presenting Photos The Business of Photography 
Thread started 19 Feb 2013 (Tuesday) 00:07
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Do you think there would be a market for an accountant here?

 
benji25
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Feb 19, 2013 00:07 |  #1

What I am thinking is that a lot of photographers he don't know much about accounting. I am not talking doing people's taxes or anything like that. I am talking about trying to help people account for their daily expenses, revenue, billings etc.

I majored in accounting and currently am partway done with the CPA exam. I have worked at a big 4 accounting firm (public accounting) for going on 2 years.

I have not really planned anything out yet but I just wanted to get ideas on if you think there would be a market for it. What I imagine is people sending me their receipts and or telling be what they did and I help account for it and maybe produce invoices and such.

I would either charge a flat monthly or hourly fee. Not sure yet.

Thoughts?

Also this was sent from an iPad so I apologize for errors


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banquetbear
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Feb 19, 2013 00:53 |  #2

benji25 wrote in post #15626226 (external link)
What I am thinking is that a lot of photographers he don't know much about accounting. I am not talking doing people's taxes or anything like that. I am talking about trying to help people account for their daily expenses, revenue, billings etc.

I majored in accounting and currently am partway done with the CPA exam. I have worked at a big 4 accounting firm (public accounting) for going on 2 years.

I have not really planned anything out yet but I just wanted to get ideas on if you think there would be a market for it. What I imagine is people sending me their receipts and or telling be what they did and I help account for it and maybe produce invoices and such.

I would either charge a flat monthly or hourly fee. Not sure yet.

Thoughts?

Also this was sent from an iPad so I apologize for errors

...there are excellent software applications out there for tracking my expenses, revenue and billings. What would you offer that I couldn't get out of a software package like Xero?


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FlyingPhotog
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Feb 19, 2013 00:59 |  #3

99% of sole-proprietorship photography operations aren't going to spring for on-going business management beyond Quickbooks and a yearly trip to their CPA (if not H&R Block)

Good idea, but only the very best make enough coin to need or even want agents, reps and a business manager.


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memoriesoftomorrow
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Feb 19, 2013 04:32 |  #4

A standard accounting package is easy enough for most to use and then just a quick annual visit to an accountant at year end suffices. As far as running the business goes opting for a service like that is increasing your overheads for no real return. Yes maybe it would save a little time but a cost benefit analysis would soon show it would be an drain on financial resources.

In my view a small business is much better off spending on good marketing advice/help as that will help increase income as opposed to reducing it.


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Acetoolguy
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Feb 19, 2013 05:56 |  #5

Most accounting services I have ever used included tax filing, I'm not having one do my day to day and another file file my taxes. The people doing my day to day know they are going to file, so keep ongoing records of tax data.


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Curtis ­ N
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Feb 19, 2013 06:51 |  #6

I have always encouraged photographers who are doing paid work, even part-time, to establish a relationship with an accountant. They save more money than they cost.

But while the legal issues in the photographic profession may be specialized, the accounting issues aren't. Photography is just like most other service businesses. Most of us should have little trouble finding a qualified accountant near us, with whom we can build a relationship.

Also, I would prefer a local accountant who is also familiar with state and local laws/taxes.

I personally don't see a great need for an accountant who specializes in the photography business.


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omnom
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Feb 19, 2013 10:44 |  #7

...




  
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tomj
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Feb 19, 2013 13:24 |  #8

Judging from what I've seen on this forum, where a lot of people could use professional accounting help is in the start-up phase. Questions seem to come up from time to time regarding handling taxes, business deductions, the form of the business (LLC, etc.), how to deal with deposits and billing, etc. Beyond that, though, as some of the other replies have said, the need for an accountant on a regular ongoing basis is probably limited.


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Andrushka
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Feb 19, 2013 13:36 |  #9

tomj wrote in post #15628220 (external link)
Judging from what I've seen on this forum, where a lot of people could use professional accounting help is in the start-up phase. Questions seem to come up from time to time regarding handling taxes, business deductions, the form of the business (LLC, etc.), how to deal with deposits and billing, etc. Beyond that, though, as some of the other replies have said, the need for an accountant on a regular ongoing basis is probably limited.

So maybe the OP might look at doing consulting for photogs who are switching from hobby or under the table side biz to professional status?


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J ­ Michael
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Feb 19, 2013 17:58 |  #10

If you're looking for a specialty check out aviation, e.g. tax strategies and support for owners of business aircraft. And focus on something substantial like turbine aircraft. Go where the money is.




  
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Do you think there would be a market for an accountant here?
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