Faux Painting for Profit

Admittedly, I am a bit slow about responding to questions… but I do try to answer all your calls for business help. I know it's stressful to start a new Faux Painting Business, it does take time, patience and the passion to succeed. I have been helping Jennifer again…

Hi Debra!! I just want to thank you for all of your advice. It's been  really helpful.

I'm still in the process of converting my website but its  coming around (slowly but surely)   

And…… I FINALLY have my first mural job lined up. They actually found me through the pet portraits I do. It's for a doggie daycare franchise and they are opening one near me.

They are wanting their lobby painted. It's going to be a pretty extensive job because what they're wanting is really detailed. The biggest wall is probably about 25 ft long by 10 ft high and then they are wanting some side walls done too… I don't know even where to begin as far as the estimating goes!   

photo credit: jason.lengstorf

I called around a couple of months ago to some other muralists in my area and they charge anywhere from $75-$100 per hour. Never have done something this big, I'm not sure how long it will take!!   

Anyways, I went ther Monday for my "free 1-hour consultation", took some pictures of the wall, and am now planning on doing a "mock-up" of what the wall with look like using the photos I took.

When you are dealing with the payment is is best to have them pay 50% first and the rest when you're done. If so, how do you take the risk of showing them your ideas? How do you know they aren't going to just use you for the ideas and then go to another artist?   

I'm so lost!!! It's overwelming but I know once I get this one done I'll feel more confident in comfortable in quoting prices and getting what I want out of the deal. I'm just afraid I'm going to do something I'm going to regret! 

Like I said, you have been a great help and your honestly is much appreciated. Jennifer

And my answer……………………….

Hi Jennifer…

I don't charge by the hour… ever… it scares customers in my opinion.
I'm not a plumber, I am an artist… and it takes whatever time it
takes.

I charge by the job… if the job has more than one area… I give
estimates on each different area and then include a break in the price
if they have me do all the work at one time.

The idea of doing mock ups on actual photos is a great idea… my clients
loved that… they could really visualize the job.

I never asked for an up front fee… I know other artists that do… but
I always waited for payment until the customer was perfectly happy and
overjoyed to write the check.

Don't ever feel like you are risking anything by showing your ideas to
customers.  You need to get over the feeling that someone is going to
steal something from you… it's not worth the energy… and makes you
seem shady.

I just helped someone do an estimate for her first "real" job and she is
doing about as much footage as you are… the fee is $1000, and she provides
all the supplies. The walls are clean and painted with a base coat and all
the art work will be off the walls and furniture removed from the area…
This is all part of the contract.

Congratulations on your Faux Painting Business! 

Related Faux Painting Business Estimates Article. 

Technorati Tags: faux painting business, faux painting estimates, how to do painting estimates

Question from a reader asking

I have a portfolio posted on the web. I am a muralist.

I was asked to paint a mural for a company. I gave them a qoute. I am not registered as a company.

I am married my husband claims income.and pays taxes.            

The company that asked me to paint a mural sent me a w-9.that says (REV. October 2007). I am starting the job in 2008. How do I handle paying taxes on this.

Like I said, I am not registered as a company. Does my husband claim this as extra income. My name would be on the company checks..Not sure how to handle this. Joleen

Hi Joleen… this is a standard form almost all business will require
you to fill out. They just need to fill it out for the IRS.  The 2007
just means the year the form was revised by the IRS.

You just fill out a business name if you have one… other wise just
fill out your name - not your husbands… Your Address and your Social
Security Number.
>
You check the box that is next to individual/sole proprietor.

Sign it and date it and give it back to the company your working for.

Next year around tax time they will send you a 1099 that is like a w-2
for your taxes. It's easy… and keeps you legal.

Debra Answering the Question: What is a W-9 Tax Form

Technorati Tags: w-9 tax form, small business taxes, file business taxes, what tax forms for business

This question from a reader is really on point! Just when are you considered In Business To Make a Profit? 

I get   jobs  once in a wee while, and do them if I choose to or have the time.

I have never done anything for a large Company. The reason I have never registered as a sole proprietor is, I work so randomly… and wouldn't know how to set  up  a  payment schedule.

I haven't worked a REAL job since before my children were born 21 years ago. Not being the business - tax savvy person I have shyed away from this, for not knowing what I'm doing. And I also feel a resistance from my husband because he's  afraid I can potentially put him in another tax bracket.  

I very much want to do this as a real business,  and would  like to go the correct route!

If I register a company name as a business,  can't I file separately as a couple… and  my husband will still be able to claim me as his wife as he has been doing all along.

I avoid bringing  up this topic with him, because he seems to squirm and I don't think he truly  understands either.All he is concerned about is whether or not it is going to change what he has been doing all along…

I totally feel this resistance, that  is why I have dragged my feet!  

If you  could address this question for me, and  maybe give me some guidance on where to find some good advice on this matter,  I would be so relieved!!!

I have  a deposit check from this company, and  I'm afraid to do anything with it.

What  general percentage of income would I  expect to pay tax on a $2,000  job?    

MOST IMPORTANTLY:   Could I go along by just having this income once in a while, without being registered as a   business, and file it as extra income earned by me on our joint return. Or is it   illegal to earn money as a person that does a service without being registered as a company?

Meaning does it matter one way or another as long as I claim the small income on our joint return…………Your a Life saver. I so appreciate your help!          Sincerely  Joleen

 Hi Joleen, I am not a lawyer or an account… nor do I play one on TV.

That said… I don't think your husband has thought of all the benifits
that come with a small home based business.

If you are in business - legally - You can deduct:

• part of your house expenses… including phone, water, utilities,

• mortgage and any improvements you do to house your business.

• If you have a separate room in your home that you can use just for an office… then
  you can deduct expenses related to that as well.

• You can deduct printer, computer, paper, ink, stamps, and on and on…

• You can depreciate your car.

I, for one have always had a home business… even when I worked full
time. My husband loved it because we could deduct so many things.
Including travel if I included a seminar of some sort in the trip.

So… in reality… your business could possible lower your tax bracket.
HA!

And when you don't have any little tax deductions running around the
house… you should always be on the lookout for a new one. Home
business is the winner every time.

You will always be married filing jointly… no reason not to.

A business income for a sole proprietor is just listed on a separate
sheet. It is a  schedule C.

Really… it's not a lot more paperwork for taxes as long as you keep
the correct records through out the year.

Here is what you do right now.  You go and get a separate checking
account and use that deposit check to open it with.   You can open the
account as: Joleen….. DBA (your business name).

Then keep all expenses and income related to your business going though
that checking account. Don't use it to pay for anything personal.  

Then get your business cards printed up as well.

Even if you only did one job a year… with just those two things… and
good records… you can file a Schedule C.

Every state is different… and the requirements for being "legal" are
different in each state… so I can't advise you on the legalities.

Have you checked out my other website: www.twopaintersinpod.com

Lots of really good material on this subject and a ton of audio
interviews you should listen to.

Let me know if you have any other questions about being in business to make a profit!
Debra