Month 6
Now you can go out there and actually buy a crazy good camera, crazy good lighting, get a drone for your
camera, tripods and every other piece of gear you can think of. And what’s great about this is, it’s all tax
writeable expenses.
You are making money now, don’t forget you have to start paying taxes unless all of these exchanges were
cash.
😉
Don’t worry about spending the money on the items. You are probably thinking to yourself, “I can’t afford that
stuff?!”
But the truth is that you can actually afford it if you have been saving up like I suggested from the beginning.
Get your lighting on Amazon and get a deal on a slightly used camera and lens.
I get all my used lenses on Craigslist and you can too. A camera that is $2,500 you will get for $1,800. I’d
recommend cameras right now but at the rate of release it would be stupid for me to do that.
All of these things you are buying are capable of being written off on your taxes as a business. So when you
make $50,000+ and have to file taxes on that next year. You get to say to the government “Well in order for to
have made that money, I had to buy a camera, lighting gear, batteries, lenses and more”. It’s the cost of doing
business. For that reason, you get to write off the equipment you buy on taxes.
For more information on this, Google it and talk to a certified public accountant (CPA) that you will be hiring
for your taxes anyways.
DISCLAIMER: I am not a tax professional. I am just telling you how it works in my experience. I have
to say that legally haha.
Since it’s time to buy your gear it is also time to go ahead and establish your companies LLC so you become a
legal entity and can write this stuff off on taxes from here on out.
Starting an LLC in the United States is actually super easy. You use a service to complete the paperwork for
you. All you do is fill out some forms and BAM, you have a LLC. This is how I started all of my LLCs.
I started my LLCs using this site www.SmartRapper.com/IncFile It’s the same site I recommend artists use to
create their record label LLCs in my ‘How to start a record label in 5 minutes’ videos that are growing really
fast on YouTube.
After you file there is a panel that shows you what is necessary in your state that you filed in. You follow the
guidelines and make sure you are up to date on everything and you are good. Every state has different laws. A
simple Google search will help you in understanding your states laws.
Check out this video here for a step by step tutorial on how to do the whole process.
Establish your LLC as soon as possible so you can write off things like your camera, lighting etc. You don’t
want the government coming after your ass.
Plus another great thing about starting your LLC is that you get to actually say you have a legal business. You
are a CEO!
Upping Your Video Price
Now that you have a better camera and tons of videos under your belt you can start charging $500+ for
videos!
You also have a YouTube channel that has some decent numbers if you are pushing traffic to it.
Let’s think about this now…$500 per video…and you’re doing 2 videos per week if you are hustling to find
customers!? You can quit your day job now. You are making $4,000 per month from here on out. And soon
enough you’ll be at a point where you are making $1,000-$5,000 per video.
DISCLAIMER: If you have not followed this guide perfectly and you are not getting clients because
you haven’t pushed hard enough to get them or haven’t adjusted your business and people skills DO
NOT QUIT YOUR JOB. I told you from the start this was going to take time and energy. If you didn’t
put that time and energy in and have the hustle and work ethic to make it work. Do not quit your job
until you get serious and really push to get it going.