Sunday, November 23, 2008

Tax Season

I know, it is still November. No better time to start thinking about how you are going to claim this extra income on your taxes. I would like our more experienced microstockers to share with the new ones what to do. Uncle Sam’s pockets are looking awfully empty these days and I’m sure you do not want to be the one he chooses to fill them.

In February, I talked with my tax advisor at H&R Block. At the time, I had not yet received a payment from any microstock site, although I had sales. She told me it would be easier to report only the money that I have received, not the money still sitting at the agency. She advised me to keep careful records of all funds that get transferred to my account and to report them the following year. This will be the first year that I get to (or have to depending on your point of view) report microstock earnings. Remember, tax was not taken out so you will pay more to your old gray breaded uncle from this stash of cash.

The most important thing to remember is not to be a fool. Report your full earnings and pay your taxes. Ask Richard Hatch from Survivor what happens when you try to fool Uncle Sam.

Does anybody have any advice to share?

Sunday, November 16, 2008

Where Do You Spend The Money?

Here is a good one. With all that cash that comes in, where do you put it? We live in a consumer society. We have junk mail and spam. We have sales people and sales calls. Do you have a rewards card with us? I doubt a few years ago that many of us knew that we would have a little extra income coming in on the side. What do you do with it? In these uncertain times, you may want to think about your options.

- Do you re-invest it in better equipment?
- Do you leave in for a rainy day?
- Do you put it towards an investment like an IRA or your kids college?

Share with us ole wise financial wizards and give us some good ideas. Personally, I’m investing for know. Once I hit a certain level, its vacation time.

Sunday, November 9, 2008

Profit or Play?

Do you shoot for profit, or just to play around? I’ve been browsing around my own portfolio and looking at the “best sales” listed on various web sites. I’ve known for quite a while that my skills are not at the same level as many. I also know that my favorite subject, landscapes, are not profit makers in the microstock arena. I’m still in this game though for first play and then profit.

Don’t get me wrong. I love it when I get an extended license sale or an entire series of images were purchased. I obviously like doing microstock. I have a weekly blog to prove it. I also know that I could reinvest my earnings so I could create “studio” images. I do it because I love photography and I love sharing my work. Let’s face it. I’m not going to have an exhibit at a gallery anytime soon, so I’ll just enjoy seeing how many people look at my images. What’s wrong with enjoying your work, and making a little cash on the side?

Monday, November 3, 2008

Favorite Places

We all have them. We all have that special place that we take our cameras to too get away from it all. That place where we can immerse ourselves into our hobby and enjoy what we love. Where is yours? Mine is Yellowstone National Park. Where else do you get snow covered peaks, vast treeless plains, north wood forest, deep canyons, boiling mud and an abundance of wildlife? I love waking up in crisp morning air and taking advantage of the magic hour with all the steam, fog, and wildlife. I have yet to visit in the winter, but it is on the short list of places to go to. If for any reason you should want to leave Yellowstone, take a drive south. You will find yourself confronted by the Grand Tetons. Not a bad place either, but that is for an article for another time.

Where is your favorite place? Share it with us.

Saturday, November 1, 2008

October Earnings Report

Finally, profit season is upon us. A key indicator for me of when the summer slow down has ended is on Fotolia. I've been whatching my statistics on how many times my images have been viewed. Earlier this summer, the views went from nearly 3,000 a month to 1,200. That number is now well above 2,000. The profits are also up. I am curious that Snapvillage was making more and more sales as the summer months went by, but went completely dead on me this month.









October resultsChange from last month
This month$121.72 $27.97
Total Downloads124 17
Lifetime Total$1424.64
Number of months contributing19
Average $/month $74.97-$1.64




I also want to welcome our new readers from:
Podova, Italy
New Hyde Park, NY (USA)