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Tographer Tuesday: Business Series-Becoming a Business Part 2

Once you register your business it times to apply for other things like a Tax Identification Number, a bank account, liability insurance all things that you should have in place before taking on actual business.  

A bank account will help keep your finances separate from your personal finances which for taxes is a huge deal. You can go to most banks and open an account for your business.  Just talk with the bank beforehand and see what they require you to bring with you when you go to set up the account.  

Liability Insurance, this is very important! Liability Insurance will cover you in the case of an accident. The last thing you want is for someone to get hurt but accidents happen and you don’t want to loose your house over it. So contact your insurance company and do some research about insurance companies that specialize in your field. Then decide which policy is best for your company to get.

Once the bones are in place theres still tons more to do like websites, contracts, etc. and we will talk further into those as the series continues.

#Business #BusinessSeries #TographerTuesday

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Virginia Photographer, Videographer, and Event Planner                                                                                                                        © 2020 PhotoPlanning Services, LLC