Monday, June 17, 2013

TIPS60 - Switching to an S-Corp and what's involved with hiring a lawyer

Here is another of our videos offering tips and inisights into the business of photography. a transcript of the video is included after the jump.

(Continued after the Jump)

TRANSCRIPT:Here are a few thoughts on switching to an S-Corp from being a Sole Proprietor or starting out. I'm John Harrington. When you're a photographer oftentimes you start out as a Sole Proprietor, you're filing your returns on the Schedule C and someone gave you the idea that you probably should switch to an S-Corp. It's a good idea. Something we talk about in another segment. I'm talking to about that how you actually go about switching to an S-Corp. Switching to an S-Corp is really easy, frankly it's pick up the phone and call a lawyer there are lawyers who for you $500 $1000, my lawyer actually was $750, will charge you to switch to file all the necessary paperwork to file an S-Corp. Filing an S-Corp isn't a big deal. It's very easy, articles of incorporation are simple to write. They are fairly boiler plate for most lawyers who are familiar with doing that and they'll do it for you fairly quickly. So get a lawyer, a competent one who knows how to file S-Corp in your local jurisdiction, and you'll be all set. It's really very simple.

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