Here's Everything We'll Do Inside Master Your Bookkeeping with QuickBooks Online for Photographers...
Lesson 01: General Setup
Lesson 03: Chart of Accounts: Overview
Lesson 01: Choose your income process
Lesson 02: Product & Services
Lesson 03: Invoice & Sales Receipts (Overview)
Lesson 04: Client Setup
Lesson 05: Creating Invoices and Receiving Payments
Lesson 06: Payment Reminder, Statements & Late Fees
Lesson 07: Creating Sales Receipts
Lesson 08: Recurring Invoices
MODULE 08 :
Lesson 01: QBO Mileage Tracker
Lesson 02: Receipt Capture
Lesson 03: QBO to Turbo Tax
Lesson 04: QBO Payments
Lesson 05: Amazon Sync
Lesson 06: Payroll Sync
Lesson 07: Square Sync
+ More to come
“I gained confidence to run a successful, profitable business”
Here's Everything You'll Learn...
By the end of this course
Be sales tax compliant AND confident - no more stressing out about what you don’t know, no more fear around sales tax, and no more chance for fines and penalties!
Know exactly how to handle sales tax so you can relax - You’ll know IF you need to register, EXACTLY what to charge, HOW TO track it and HOW TO file and pay for your state and any states, you may travel to.
Have your sales tax organized so you can spend your energy on better things - instead of laying in bed stressing about everything you don’t know about sales tax, worried it's bound to all catch up with you soon. Instead, you can focus on more important things... like getting sleep so you can be bright eyed for your next client shoot.
LESSON 01 :
What is Sales Tax
Complete overview of what sales tax is exactly. In this lesson, we’ll cover what sales tax is, why it exists and how it affects your photography business.
Sales tax is not an expense or income - It’s actually a liability and I’ll show you how to account for it properly.
Tracking & filing sales tax can be super simple - Having bookkeeping software like QuickBooks Online will streamline the sales tax tracking and filing for you.
Sales tax only exists at the state level - We’ll go over why sales tax is so important for states and why they want their money.
LESSON 02 :
Sales Tax Compliant
An overview as to why sales tax compliance is so important and how to figure out if you are sales tax compliant in your photography business.
Are you sales tax compliant? - We go over why sales tax compliance is so important.
Every state is different - We go over what you need to know about your state's sales tax laws and how they pertain to your photography business
There are 3 questions to ask yourself - We go over the three questions to ask yourself to find out if you are required to register for sales tax.
LESSON 03 :
Sales Tax Nexus
We go over all details you need to understand about the sales tax nexus. This is an important tax term you should know and feel confident about.
What is sales tax nexus - This can be defined differently from state to state but we go over what you need to know to understand exactly what sales tax nexus is.
How to know if you have sales tax nexus - This is the first step to understanding your state’s sales tax laws.
Sales tax nexus in multiple states - Yup, it’s a thing and it’s important. We’ll go over what you need to know so you are compliant in all states you do business in.
LESSON 04 :
This is a new type of nexus that was created in 2018. This is the second type of nexus that can affect you if ship items into other states.
What is sales economic nexus - We’ll go over everything you need to know so you have a full understanding of economic nexus.
Every state is different - Every state is different and not every state has it. We’ll show you what states have it and what their rules are.
Constantly changing - States are still changing economic nexus. We’ll show you how to keep up and what to do for all the states you do business in.
LESSON 05 :
We start to get into the meat and potatoes of your burning sales tax questions in this lesson. You’ll walk away knowing what is taxable and not taxable in your state or any state you do business in.
Learn how to use our guide - In this lesson we walk you through our BONUS state by state resident states sales tax guide. We’ll cover a few state examples so you get the hang of how to use the guide.
Every state is different - Every state has different rules around what they charge sales tax on. We cover what you need to know for your photography business when it comes to services, physical goods, and digital goods.
Know your state’s sales tax source - Each state has one of two sales tax sources. These dictate what zipcode you use to calculate tax rates. We will go over this in detail so you know what source to use for each state you do business in.
LESSON 06 :
Sales Tax Rates
Sales tax rates are often made of a few different rates based on state, county, and local government. In this lesson we cover what makes up a sale tax rate and how to lookup the rates you should be charging.
Learn how to look up sales tax rates - We show you how to look up the correct sales tax rate.
Learn how QuickBooks Online helps track sales tax - QBO tracks sales tax exactly how it needs to be reported. We cover the specifics in this lesson.
Gain confidence - After this lesson, you will know you are charging and tracking all the correct amounts.
LESSON 07 :
Failure to Register, File, or Pay
There are penalties for not registering, filing or paying. In this lesson we go through everything you need to know.
Learn penalties for each state - We go through what each state may charge for penalties in this lesson.
Amnesty Programs - We touch on how you can use your state's amnesty program to avoid penalties and get compliant.
Take a deep breath - There are options to get compliant and I'll show you what you can do so you can take a deep breath and start to lay out your plan!
In this lesson, we go over all the common mistakes I’ve seen regarding sales tax and I walk you through how to correct them.
Create a master plan - This lesson will help you fix any prior oversights or mistakes and get yourself compliant so you can move forward with sales tax confidence.
If you’ve been charging the wrong amount - We go over how to get this cleaned up and set straight.
If you’ve never filed or paid - We go over all the ways to get yourself compliant and caught up.
Most states have amnesty programs that allow you to get set up & caught up with sales tax without fines or penalties. We cover everything you need to know in this lesson.
Avoid penalties & get compliant - You’ll learn all about amnesty programs so you can leverage your state program to get compliant without penalties.
Deep Dive Into VDA’s - We will cover State Voluntary Disclosure Agreements in detail.
Don’t let the fear of not understanding sales tax laws paralyze you - It’s super easy to connect with the state and make it right, I’ll show you how.
Sales Tax Exemption
There are many transactions you may not be aware of where sales tax does not apply because you are exempt. I'll walk you through what you need to know for your photography business.
Album Orders from photo labs - There’s a special way to handle these so that you’re sales tax-exempt and we cover that in this lesson.
Sales Tax Certificate - We go over what this is and how to obtain yours to provide to vendors to prove your exemption status.
Don’t pay more than you should - You’ll finish this lesson understanding what is exempt and what is not so you don’t pay any sales tax that you don't need to! More money in your pocket? YES PLEASE!
Galleries & CRM's
Another place sales tax needs to be addressed is in your online galleries and CRM’s and we go over them in great detail in this lesson.
Online Galleries - We cover which ones will handle sales tax for you and which do not.
CRMS - We go over things you need to be sure you understand about your CRM and how it handles sales tax so that you stay compliant.
How to evaluate CRM’s & Galleries - If you’re researching CRM’s or Galleries we’ll go over everything to consider in regards to sales tax. This could help you make a final decision with confidence.
Packages & Pricing
How you package and price your services and photography packages can have a direct effect on sales tax. In this lesson we talk through things to consider when setting up yours so that you can streamline your sales tax tracking.
How to structure your packages - We cover how to structure your packages based on your state’s sales tax laws and what services and items you offer your clients.
Keep your pricing compliant - We go over the laws of how you have to have your receipts to clients to stay compliant with your state. There are certain criteria you have to show.
Pretty packages - We go over ways to keep your packages and pricing pretty on your website for clients while keeping your receipts sales tax compliant.
This is a huge item I see clients overlook all the time and I want to break this topic down for you so that you are never caught non-compliant due to an entity change.
How entity changes affect sales tax - We cover how certain changes in your business entity can directly impact your sales tax account and what to do.
Closing out an old sales tax account - We go over what’s needed by most states to close out an old account so that you’re not charged penalties for an inactive account.
New EIN/Tax ID changes everything - I break down what to do if you obtain a new tax id.
Another overlooked item in regards to sales tax is what to do with returns and refunds. We will cover everything you need to know in this lesson.
Refunds - We cover how to process refunds both with a payment processor and how to record them if the original sale had sales tax.
CRMS & Refunds - We go over how various CRM’s handle refunds and sales tax so you are aware and make sure you’re staying compliant.
Don’t pay more than you should - If you’re not processing your refunds properly and reporting them correctly, you may be paying more sales tax than you should be. After this lesson, you’ll understand the process.
Gift Cards & Deposits
Yes, another overlooked area in regards to sales tax is how to treat gift cards and deposits in your photography business. We will go over everything you need to know in this lesson.
Gift Cards - We walk through exactly how to handle gift cards in your business, then we go over how they are affected by sales tax.
Deposits - There are times when deposits are taxable and there are times when they are not. In this lesson, we break it all down for you so you know how to treat them in your photography business.
Retainer Fees, Sitting Fees - We cover all of these types of fees as well in great detail and show you how to treat them when sales tax applies, and when it does not.
When you travel into another state to shoot a session there is a whole new set of sales tax laws that may apply to you. We cover them in great detail in this lesson.
Stay compliant even when you travel to another state or internationally - So many photographers do not realize that shooting in another state opens you up to new sales tax laws. We cover them all in this lesson.
Advertising to travel - If you advertise on your website or elsewhere that you travel into certain states, that may require you to register for sales tax. We cover this for all states inside this lesson.
Is your client a resident - Your client’s residency directly affects the sales tax laws for the state you travel to. We’ll show you how to figure this out for each state.
“I know I can relax about taxes and won't be messing up my financials."
With her help, I know I can relax about taxes and won’t be messing up my financials. She is a true expert and is up to date with current tax law information. The word that keeps coming to mind when I think about her work is “care”. She is relational, funny, smart, and easy. Learn from Tiffany because she will save you time, money and stress! Plus, you will feel like you have an amazing coach in your corner pushing your business forward.”
By the end of this program, you will:
Be organized & prepared for tax time (instead of spending another year promising yourself you will get it together)
Understand all the entities (Sole Proprietor, DBA, LLC, or S-Corp) and pick the business structure that is best for you.
Know exactly how to handle Sales Tax in your state and any state you do business in.
Know exactly how to pay yourself for the best tax advantage.
Be saving for Retirement (retirement is not exclusive to someone residing in a cubicle! You can (and should) leverage your business to save for your future too. I’ll show you how to do it.)
Know where to start with Bookkeeping so you stay organized all year long with ease. I’ll show you the system and processes that will work best for how you run your photography business so it’s a match made in heaven!
Be proactive with a Tax Plan and know exactly how much you need to pay quarterly so that you can get money back come tax time. (I have an online tax planning tool just for you!)
MODULE 01 :
We start the entire program by diving into business structure.
Business structure really is the foundation of everything we are going to learn.
Choosing a business structure is one of the most important decisions when setting up your photography business. Yet, often it is the last thing to be considered.
Your business structure affects your taxes, personal liability and may require specific record keeping and tax filings. Knowing what these are will help you stay compliant.. And in business!
I’ve also found that business structure is the most widely misunderstood topic for many photographers.
In this module, we’re going to break down each business structure in detail so that you walk away with a full understanding of how each is formed, what effect it has on your taxes and your personal liability.
Then, we’ll round out the module by comparing and contrasting the different structures to help you understand which structure is right for you, right now and when it makes sense to change.
Understand the various business structure options and choose the one that works best for you while also keeping an eye out and knowing when it's time for a change.
Identify if you need a business license. Your state or local government may require you to have a business license or permit in addition to everything else. I’ll help you figure it out and how it relates to your photography business.
How to get a Tax ID/EIN and why it helps when setting up a business bank account.
MODULE 02 :
There are many different taxes. It can be overwhelming..
But I’ll break it all down!
In this module I go over all the taxes: both state and federal income tax, sales tax, Self-employment tax, payroll taxes and estimated taxes.
I break out each type of tax so that you know the difference between them and which ones may pertain to your business.
It’s crucial to know which taxes you're responsible for so you are compliant and tracking properly to avoid fees and penalties.
Understanding taxes and how business structure affects them gives you the ability to create a strategy for how to keep more of what you bring in.
Discover how electing S-Corp can save you on taxes. S-corp election offers so many tax savings and ways to pay yourself and save for your future that other structures do not. We will go over all the details to determine if it’s the right fit for you.
Learn how net income of your business affects your actual tax return and how the various taxes are calculated so that you can strategize to save.
Finally understand Estimated Taxes and how to calculate them and file them on time, every time.
MODULE 03 :
We'll go over what income counts for reporting and how you can organize your income.
We'll talk about the difference between income and net income and how to track income whether or not you have a bookkeeping system.
We'll also look at items you think are income, but aren't.
Learn how much income requires you to file taxes.
Find out why you should file a tax return even if you didn't make any money during the year (which can happen in your first year).
How to account for money you put into your business that doesn’t come from clients. This may happen when you transfer cash into your business account to make a big purchase, or when you're just starting out.
This is a vast topic and together we go over every nook and cranny.
We’ll start by talking about some common and a few not-so-common expenses you may not have thought about.
Then we’ll sort through the misunderstood expenses that are really not deductible.
We’ll compare how the expense categories line up with Schedule C for your tax return to make it simple to file your own taxes.
Learn various ways to deduct vehicle expenses and what each method entails (did you know there is more than one way?)
Finally grasp the mystical home office deduction - this deduction is often overlooked and can really offer you some tax savings when tracked and reported properly.
Understand the difference between an expense and COS (Cost of Sales) This is something you actually control based on how you want to see your data and I will show you how.
MODULE 05 :
It's finally time to end your annual debate on who you should be tracking as an independent contractor! This topic deserves its own module so we can go over all the details.
As a photographer, you may be in both situations at once. Maybe you're hired to do a second shoot and you need a W-9, or maybe you've hired a makeup artist and need to receive one.
We go over every detail inside this module.
W-9s are often filled out incorrectly, I'll teach you how to fill out a W-9 for yourself & how to make sure the W-9’s you collect are filled out correctly. Filling out these forms correctly is important for reporting.
You’ll receive a W-9 request letter template that explains the legalities and why you're required to have a W-9 on file that you can use in your business when requesting W-9’s.
I’ll share the most efficient system to track and collect W-9 forms and report 1099’s all electronically.
I know you're passionate about working with your clients and they even pay you!
Wouldn't it be awesome if you could actually pay yourself, and take that home?
In this module, I’ll show you how to quit making ends meet and start paying yourself properly..
We’ll go over how business structure dictates how you must pay yourself, along with the various ways you can financially benefit from your business beyond just a paycheck.
Learn about the Cost Of Doing Business (CODB) This helps you to plan on how much you want to take home before the income ever flows in.
Discover how you can start saving for retirement (Leverage your business income now to grow money for your future. (That’s right retirement is not just for those who work from a cubicle all day)
How electing S-Corp can help you take more home and save on taxes at the same time.
This is where the rubber meets the road.
How often you update your bookkeeping and reconcile it to be sure it is accurate makes all the difference in being able to make sound business decisions.
Organized and accurate bookkeeping can help you tax plan and make big moves during the tax year to save money long before tax day arrives (imagine how nice that will be!).
Bookkeeping is really where everything you will learn in this program comes together.
Go over various ways to handle your Bookkeeping from super simple to more ideal automated and integrated systems. We’ll go over them all.
Learn all about receipts, so you know what you have to keep and for how long and then how to organize.
Get a complete financial report tour! We’ll walk through each financial report you need to look for, what it tells you, and the best way to keep your books to produce accurate financials on the spot.
Failing to plan is planning to fail.. Am I right?
The very last piece of this puzzle takes everything you have learned in this program and shows you how to tax plan!
Can you imagine knowing what you'll owe any given moment during the year AND how you can lower that number?
This module comes complete with access to the same tax planning tool I use for my one on one bookkeeping clients.
You’ll get to create your own tax plan and learn how to lower what you may owe. YES, you will take this program AND instantly apply it now so you can benefit immediately!
Tax planning is truly what will transform your tax game and take you from stressed out and reactive to serene and proactive.
Access To The TAX PLANNING TOOL I use for all of my own clients! I’ll show you how to use this tool to layout your Tax plan so you can start making moves before tax day!
Learn tax strategy such as how to put money in your future (via retirement plan) and lower your taxes today. You’ll be able to play with different amounts to find the best one for you to start with.
Pull together your entire tax situation - both business and personal and understand where you're at and options you have to save.
Meet Tiffany Bastian
Hey there my photographer friend!
I’m so excited that you’re ready to take the next step and lean into learning more about the financial and tax side of your photography business.
Look, This stuff is not rocket science.
Anyone who WANTS to learn this CAN!
I believe the ole’ “Teach a man to fish and he will be fed for life” rationale AND that knowledge is power! But, many tax professionals use that knowledge to talk over your head and make it all seem super confusing and impossible to grasp - and rarely do they explain anything to you.
That’s not how I roll…
Look, I have an MBA in Accounting and am an IRS Enrolled Agent. My team and I work exclusively with photographers just like you everyday. With this knowledge, I’ll empower you!
It’s my mission to help you understand the financial and tax areas of your Photography business. So, that you can level up!
I’m focused on your success - Let’s GO!
Plus You’ll be Backed by a Risk-Free 14-Day Guarantee
Photographer, I promise that you'll LOVE this course, and you CAN 100% follow each step and apply what you learn to your photography business. But the best thing about it is… you don’t even have to believe me before trying it out, and going through the course to see for yourself.
If you are not 100% satisfied with this digital course after going through each lesson, simply tell us within 14 days and we'll give you a FULL refund.
You have a full two weeks to make sure it’s the right fit for you and your business based on EXPERIENCING it, rather than just taking my word for it. You have nothing to lose and a stronger photography business to gain! Check out our refund details.