Question for voice over people
Home > Home Recording Forum > Recording Techniques > Question for voice over people
Posted on Nov 23, 2009 12:25 pm
Schmidty
Member Since: Sep 19, 2009
I'm in the process of getting my voice over business up and going. It will be just me, no employees.
Is it necessary or a good idea to file my company name with the Secretary of State so no other company can use the name I choose for mine?
Also, can you provide me with advice on the best way to file my taxes so I don't end up dishing out more to Uncle Sam than I need to?
Thanks for your help.
[ Back to Top ]
Nov 23, 2009 12:29 pm Unless you start making big bucks, I'd say just file your income as personal income like any other job you have and keep it as a sole proprietorship...but others likely feel differently.
As far as your name goes, I think you can just use a DBA announcement in a local paper to claim it as a DBA, it's hard to protect your name from anyone ever using it anywhere.
pjkPrince CZAR-mingMember
Since: Apr 08, 2004
Nov 23, 2009 01:05 pm I've use DBA, i did this at the county clerk (or maybe city clerk, if you're in a big city).
This protects the name from anyone else using it, at least in the region that you're in, anyways. that's what the clerk lady told me, so i believed her. 5 years at a pop, here in michigan.
also, you can open a bank account under the name of your company, but you'll need a DBA or other business entity documents to do this. Often people will want to write checks to the company name, so you'll need a bank account to match.
I talked to a local car battery company owner, and he's used DBA all along (20 years or so) and his lawyer said that a corp doesn't really offer you much extra protection, and almost all other stuff is similar, at least for a single owner type of business. So he's used DBA all along.
I file my income as personal income, like DB mentioned. I've not had any problems with the two tax companies that I've used. Just be sure to get all deductions you're entitled too, like house costs (if you use a room dedicated to work), mileage (big helper there), equip costs, purchases for work, etc.
disclaimer: i'm no expert, just a working stiff, working on my own.
Nov 23, 2009 02:12 pm ok thanks!
Nov 23, 2009 03:02 pm I was running as a DBA for years and recently switched to a LLC (much more expensive, but there are a few advantages). I'd stick with a DBA announcement - Usually you can call your local paper and they'll have some sort of a "DBA Announcement Package" in which they'll pretty much take care of everything. You just sign stuff.
Then you can take the DBA papers to the bank and what not.
As far as accounting... IMO, the guy who does his own business accounting has a fool for an accountant. Find a guy you trust (not one of those "big box accounting stores" that pop up every January) who you can talk to occasionally. Someone who isn't going to retire in two years. There's a lot of details in this business as far as writing off gear (in several different ways), what constitutes "gear" and expenses. Leave it to an expert to get the most out of it. It's not that expensive...
And you can write it off. :-)
Quincysanhttp://www.unitedmusicians.infoContributor
Since: Nov 11, 2007
Nov 23, 2009 05:01 pm Do you have to post a profit to remain eligible for tax write-offs? Seems like a guy with a lot of taxes to pay could afford gear instead of paying taxes...why is that legal??
I've never owed the IRS money, always ended up getting a check at the end of the year (because I'm a lazy and claim 0's). I assume the tax write-offs are only eligible if you have taxes to pay...so this is irrelevant to my current situation.
If I WERE to redo my W-4 and keep the maximum amount from my paycheck...knowingly getting myself into a situation where I would owe thousands of dollars to the IRS. What would stop me from starting a sole proprietorship or DBA and planning the deficit to become my equipment expenditures at the end of the year?? Could I really just claim to have a home VO business and sink cash in my studio at the end of every year? What if my home VO business had me traveling to Bora Bora to document the tonal nuances of the receptionists voice at the most expensive resort on the island? Could I also write off that endeavor? I know what I am describing is fraud...but if you don't have to post a profit then how is this type of activity regulated? Audits?
On a further rant, I worked for one of the"big box" accounting stores in a temporary Tier 2 network remote support position. Lots of Tier 1 temps are musicians who come in for the seasonal work earning much more than what their experience would pay them at a similar position while simultaneously making time and a half overtime on 75-80 hour weeks. After the seasonal layoffs the temps will file for unemployment and live on that until the next tax season...effectively earning a living wage comparable to what they would be earning if they had a job working at their present skill level. Basically...they get paid to sit on their butts and just BE musicians...or alcoholics...or druggies...or whatever inspires their complacency for the moment.
America, I love you...but your laws confuse me.
