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Messages - sgoodwin4813
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101
« on: February 22, 2021, 23:57 »
An LLC is not the same thing as a corporation and they are taxed differently. The main difference is whether you own it directly or have shares. I don't have an LLC for photography but would if I did it more extensively or if it involved more contact with the public. I do have one for another line of business.
The main advantage of an LLC is exactly what it says - to limit your liability. If you have it set up right and someone sues you they can only go after the assets held by the LLC and not you personally.
They are relatively easy to set up but the rules and charges vary slightly by state. You can set it up yourself (I did - bought a template form on the web) or can hire someone to do it for you. Mine is in Virginia and we pay I think it is $50 per year to the state and another $300 to a law firm to serve as a registered agent. Rates in other states (e.g., CA) can be much higher. The weird thing is you don't have to set up the LLC in the same state where you live but it is best if it is where the business mostly occurs. Having a registered agent is a requirement unless you want to man a permanent address yourself. You will have to set up an operating agreement and keep track of at least one meeting per year - your registered agent might help with that part of the paperwork. You also will need to get a separate EIN for the LLC and a separate bank account in the name of the LLC is best to make sure it is completely severed from your personal assets. It is a minor hassle and takes a bit of time to set up all of that but easy to keep it going afterwards.
At tax time you do a separate filing for the LLC (due around the middle of March) and then the income (or loss) flows through to the owners who add it to their regular tax returns. If you are doing anything that involves regular contact with the public or otherwise has possibilities for liability lawsuits then I would definitely set up an LLC if you can - for relatively modest hassle it protects the rest of your assets just in case someone went after you, and they are much less likely to bother knowing the assets they could get if they won are lower. You might want to get the advice of an attorney (which I am not) if you proceed. Good luck!
102
« on: February 17, 2021, 20:36 »
My impression is that most agencies (except for Fotolia/Adobe) only report the money to the IRS when they pay you, so if you didn't get a payout from DT then you have no taxable income and they aren't required to send you a 1099.
In the case of DT I think they only provide the 1099 if they paid you more than $600 in a year, when it becomes required by the IRS, so you wouldn't have received one from them even if they did pay you (I never do).
I always report all the money I was paid regardless of whether the agency sends the correct tax form. This excludes money that was earned but not paid out. The exception is Fotolia/Adobe who will send you the tax form on what you earned even if you haven't received it in a payout, so that needs to be included.
103
« on: February 01, 2021, 11:52 »
I received mine in the mail a while ago
104
« on: January 31, 2021, 11:22 »
I miss the old days of going into stores too. It's often too hard to see what something is really like online and then as soon as it arrives you know it wasn't what you were expecting. I hate that.
My current landline phones were from Radio Shack - can't remember when I got them but obviously many years ago (and still working fine). Best Buy is hanging in there and I hope they continue to keep their stores open. They have been pretty good about adapting to online sales and are there when you really need to consult with a person (pre Covid anyway). BTW, their credit card is a good deal. I bought a TV last week that was delivered for free. I had $110 in credits from previous purchases and earned another $5 just from the TV so it cost me next to nothing. Now that I think about it, I will probably make more in credits from using my Best Buy credit card than I will from Shutterstock this year (kind of a sad realization). It also has no annual fee. Full disclosure: I have no relationship with Best Buy, their credit card is just one of the best I have used. You can only use the credits for purchases from Best Buy, but if you buy any electronics, DVDs, camera gear (I bought a lens from them last year), etc., it is a good deal, plus the credits usually are good for six months or more so you have a chance to use them before they expire.
As to Amazon, I have been burned too many times buying from them that I usually avoid them if possible - prefer to go directly to the seller rather than from Amazon. I've had plenty of good experiences with them too and can often get things that are difficult to find elsewhere, just wish they would police the unscrupulous sellers better than what they do, and stop letting people close one shop and immediately set up another once the negative reviews stack up.
105
« on: January 31, 2021, 10:57 »
Worst month since August of 2009 - my seventh month in microstock. It was down 86% from my average of last year and 92% down from the average monthly earnings of my best year in 2017. Fortunately I don't need the money, but wow what a precipitous drop!
My final submissions to them were during April of last year - wasn't really worth the effort even before the commission cut and definitely not now. Looks like this month they will finish in fourth place, and might drop to fifth depending on iS. They were just a few cents ahead of DT and could drop behind them with one more DL. Will be interesting to see how far they drop after the next poll - soon fading to irrelevance, unfortunately.
106
« on: January 31, 2021, 10:46 »
Hopefully tomorrow I'll move into tier 2.
Where you will still mostly get 10-cent subs - yay! Congratulations on moving up at least.
107
« on: January 31, 2021, 10:38 »
That's too bad but not surprising. I always liked them - 50% commission, no subs and ok prices. Weird reviewing at times and low sales made me drop them from uploads quite a while ago though. Have only made $2 since my last payout last year. That site has been on autopilot for many years and I guess it will simplify the accounting a bit. Who is next - 123rf?
108
« on: January 19, 2021, 11:47 »
I don't understand why the agencies don't take the approach of inching up prices on strong selling images (and of course to proportionally pass the increased earnings on to the photographer).
DT used to do exactly that with images given ranks based on numbers of sales - the higher the rank the higher the price. It was always nice when you got those level-five credit sales. Unfortunately, it didn't seem to be sustainable, at least for agency profits. Not sure if they even track the levels any more. DT also had a very strict similars policy with the idea to keep the database clean for a better buyer experience. Another idea that sounded good in theory but died in the face of reality.
109
« on: January 17, 2021, 23:13 »
Biden knew some of the Founding Fathers personally, ...
I heard a comment i'd never thought of before that Biden has lived thru about 1/3 of the entire history of the US (some of us are also getting close!)
I hadn't thought of it that way before, but the country is basically 244 years old, so anyone 81 or older really has lived through about 1/3 of the country's history. Interesting.
110
« on: January 15, 2021, 19:57 »
You have to admit they could have found someone with a bit more clout a bit more suitable for a President.
Biden knew some of the Founding Fathers personally, served in the senate for half a century, was Vice President for eight years and knows pretty much everyone in DC. Can't really find anyone with more clout or more suitable for the presidency than him. Except for maybe Hillary Clinton. I've never been a big Biden (or Clinton) fan - he's too fuddy duddy and was too slow to realize that Republicans don't believe in compromise, government or integrity - but someone with his experience who has been there before and knows what to do is exactly what we need right now. Mitch McConnell in his usual disdain for the country has refused to convene the Senate to confirm a single one of Biden's choices for cabinet seats. We need someone who can purge the country of Trumpism and get things back on the right track and Biden with his several centuries of experience fits the bill.
111
« on: January 15, 2021, 19:41 »
..so what does he really care about winning another term??
Staying out of jail for one. Having to finally release his tax returns is another, which is likely to show that he is not nearly as rich as he says and probably will lead to multiple investigations of fraud. Full release of the Mueller report. Not being able to direct taxpayer money to his personal properties. No more protection by the justice department. No ability to conduct rallies unless he pays for them himself. Hopefully at 12:01 PM next Wednesday he will be hit with a raft of lawsuits and criminal indictments that will keep him busy for the rest of his life, assuming he doesn't declare martial law and try to retain power with a second coup before then. He was so adamant that there was no Russian collusion you can be sure there was tons of Russian collusion. From what we know it seems likely his main business for the past 10-15 years has been money laundering for the Russians and organized crime. After next Wednesday he can be investigated and indicted for all of those - plus probably tons more we aren't even aware of. Maybe we will finally find out what it is that Putin holds over him.
112
« on: January 15, 2021, 00:33 »
having said this it makes me want to spew up watching horrible Pelosi gloating like an old crow and the geriatric Biden is really the most piss poor choice I have ever seen the Democrats come up with!
Wow. Just wow.
Hate much, pal?
I watched "geriatric" Biden's speech tonight. After Trump it was really hard to listen to a speech with a coherent train of thought, proposing real solutions to pressing problems, showing authentic empathy, understanding and caring for the difficulties being faced by many, and that tried to unite rather than attack and divide. How will we ever get through the next four years with someone who actually wants to make things better?
113
« on: January 15, 2021, 00:23 »
It looks like an improvement, but I stopped uploading there to see what was going to happen with their subscription system and don't plan to resume so really don't know. Hopefully someone else does.
114
« on: January 15, 2021, 00:21 »
I don't know - I just keep a tally and give it to my accountant, I've never bothered to look where he lists it. I think there was a separate place to claim a credit for foreign taxes paid but I might be wrong. Sorry I can't be more helpful. If I get a chance I will dig up my tax returns and take a look but don't hold me to that.
115
« on: January 14, 2021, 13:39 »
I thought I saw a news report that said the Senate voted to impeach
Wishful thinking, unfortunately. It has now gone to the senate to decide, but slimeball McConnell will not reconvene until the 19th at the earliest with no votes taken until after the inauguration.
116
« on: January 14, 2021, 11:40 »
Trump impeached for the second time.
There's a record he can boast about!
Under Trump, the winning just doesn't stop. First president to be impeached twice! (hopefully also the first to be convicted but I doubt the senate will do their job). Most members of their own party to vote for impeachment! More Coronavirus deaths than any other country worldwide! More indictments than any other presidential administration! Including beating Nixon in less than one year! First President since Herbert Hoover during the Great Depression to preside over a net loss of jobs! First time to have the Capitol overrun since the British burned it in 1812! So much winning and so many firsts! The list goes on and on! The one I am really hoping for is: first former President to spend the rest of their life in jail! But we will see. If it looks like Trump will spend any significant time in jail I expect he will defect to Russia or some other country with no extradition treaty. He might even do it next week - on Jan. 19th he could easily take Air Force One directly to Moscow and stay. Then he could set up an alternative government in exile and bilk his followers to plan for his return. But I think he will assume he can continue to cheat the system and we will be stuck with him for a while. Without twitter and if the media starts ignoring him he should fade into an ignominious oblivion, hopefully soon. Provided his minions don't stage a successful coup during the next few days...
117
« on: January 14, 2021, 10:54 »
So far this month SS is my number 5 agency. Fading to irrelevance, unfortunately.
118
« on: January 11, 2021, 20:40 »
I didn't get that message from Depositphotos - how low are they are going? Better go request payout before they go under and keep the money ...
As for SS, don't know when I will level up - those 10-cent downloads don't add up to much. And with no more uploads it isn't going to get any better.
I'm pretty much done with new uploads to microstock. Might send some RM to Alamy just for fun but that is it. During Covid times I somehow went from having two cats to five, with the last two being kittens who desperately needed a home (I am officially just fostering the kittens but they have been with me almost four months now and don't seem to be leaving so it might become permanent). My New Year's goal is to get pictures of all five cats online and then my microstock career will be complete. Meow.
119
« on: January 08, 2021, 17:44 »
I earned $0 on 123 last month for the first time since 2009. They have now dropped so much as to be totally irrelevant.
120
« on: January 08, 2021, 17:42 »
Maybe Australia goes with a July-June tax year but their statements don't help us much in the US. I do the same as you. The other annoying thing Canva does is charge us foreign income tax. I always claim that back as Foreign tax paid but it is just another way that their system is not helpful to contributors. Would be nice if they did like all the other agencies and provided a statement on a calendar-basis and do not charge us Australian income tax (since I believe there is a tax treaty between the US and Australia).
121
« on: January 03, 2021, 19:00 »
I think the truth is that no agency is performing well and the big money is gone forever no matter the portfolio content. As far as I'm concerned there are no winners just less losers!
That pretty well sums it up. The winners are the owners of the big companies, who are doing fine. Contributors and small agencies are definitely the losers. Last month SS was the lowest since January of 2010 and they were number 3 among the agencies. Adobe was no. 4 so they are not picking up the slack, for me at least.
122
« on: December 31, 2020, 22:55 »
But don't the majority of other companies not have the ability to request a payout... they send them to you automatically when you reach a certain amount?
Dreamstime, Canstock, Bigstock, Deposit, Featurepics as well as Adobe all hold onto your earnings until you ask for them. Might be a couple of others, I can't remember off the top of my head. I usually go and request my money from all of those at the end of the year, although never got around to it this year - will make my taxes easier in April.
123
« on: December 28, 2020, 10:50 »
I may be incorrect, as my wife says I am most of the time.
Listen to your wife. Adobe has always done it that was as far as I know. All of the other companies do it by payouts, so if you don't request a payout then you won't owe any taxes until you do. With Adobe you owe taxes regardless of payouts. The good thing about that is that you won't owe any more when you do claim it.
124
« on: December 06, 2020, 11:29 »
Let me see if i get this right.... If you pay taxes then Its public information how much you earn in SS right? Anyone can share the IRS.
No, you didn't get it right - information sent to the IRS is private. That's why we still haven't seen Trump's taxes after all these years (except what was leaked by others). I think that SS policy is too restrictive and probably counterproductive, but their playground, their rules, you either accept it or not.
125
« on: November 23, 2020, 00:02 »
My last three were for $9, $62 and $119 gross, all within the past month. The lowest in the past 3 months was for $3. About half have been RM exclusive so I got 60%. Still very sporadic but nice when they come.
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