From: Igor Roshchin
While I agree with that photographer in general, she makes mistakes
in her calculations.
1. She says that she does wedding photography 4 months per year.
Then her business expenses, as she portrays them: insurances (professional,
...), car expenses, etc. - should be only calculated for 4 months.
2. Overall - it is not a "full year job". It's a 4-5 months job, - a
seasonal job.
It's like a personal tax return preparer: you cannot live on that income
the entire year; you have to do some other job during the rest of the
year.
Or, - she shouldn't say that "family portraits, senior portraits and
corporate jobs" is a way of getting out of the "hole".
In my view, - that's still a part of a full-time photographer's
business. Many creative jobs have the components that need to be done to
provide the rest.
But even with that - she isn't swimming in money just because she
is charging $3k for a wedding package.
Igor
Some of those expenses are annualized because you have to pay them for
the whole year even though you may only be generating income during part
of the year. You can't get business insurance for just the 4 months
you're working.
The way I read it, "To get to your (and my other brides) wedding
consultation, second wedding pre-consultation, the wedding itself, and
to and from the printers I spend $840/year in gas money" doesn't include
what she spends on gas when she's not working.
By way of reference, gas cost me an average of $3.38 per gallon last
year; $840 would have given me about 249 gallons of gas. Dividing that
by 20 weddings she's burning about 12.5 gallons of gas per wedding for
all the combined running around involved. Probably drives an SUV.
Where I'm not clear is why taxes are listed first before deducting cost
of goods sold and other business expenses?
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