Active development of electronic technology and the internet has simplified life of information pirates and plagiaries. Today everybody can easily copy, duplicate and distribute other people’s intellectual products. In order to control this situation in 1996 the World Intellectual Property Organization developed the WIPO Copyright Treaty (WCT) as well as the WIPO Performances and Phonograms Treaty (WPPT). These documents formed the basis for international laws protecting copyright and regulating relationship between rights holders, intermediaries and consumers of intellectual products.
Copyright © 2008 kozumel
As a self-employed artist, or photographer, you have to pay an ordinary income tax as everybody else does and additional “self-employment” tax which does not exist for people living on a wage.
Self-employment tax is social security contributions for a photographer/artist. Normally, when you are employed by someone else, the employer is responsible for these payments. However, when you are a freelancer, you must pay the full amount yourself.
Today, I wanted to speak about personal finances of a self-employed person – photographers, artists and freelancers in general. I started Visual Watermark as a part-time project while working with my ex-employer DevExpress Inc. It was fun and easy side-project since it yields small but steady revenue and didn’t require too much effort to support it. This year I left my day job to fully concentrate on my side-project.
This move gave me an opportunity to do what engages me a lot and still much more flexibility to spend time with my small baby. On another hand, it cut our revenues in half. I don’t have “extra” money anymore, money to buy a trip to the ocean without putting aside for a few months or money that I can put into business development if necessary. I still had enough to pay my expenses but no penny above that.
One day, I received an email from Google that my Adwords account was blocked because of insufficient funds on my card.