Business & Finance
What Your Photography Business Owes the IRS (And How to Stop Being Surprised Every April)
Every January, I pull up my studio’s numbers and run the same calculation my accountant husband walked me through years ago: take my net profit, multiply it by 0.9235, then multiply that by 0.153. That’s my self-employment tax liability before I even touch federal income tax. If I hadn’t started doing this math quarterly, I would have written a check to the IRS every April that physically hurt. A lot of photographers I know are still writing that check.