Photographer’s Guide to Profit First Accounts

Profit First for Photographers: The 10 Bank Accounts Every Photographer Needs to Stay Profitable and Sane

Look, I get it. You didn’t become a photographer to stress about spreadsheets, taxes, or whether there’s enough in the bank to pay your second shooter this weekend. You became a photographer to create—to do work that lights you up. Try something different: Profit First for Photographers. This cash flow system is designed to help you pay yourself, stay profitable, and finally feel in control of your business finances.

If you’re constantly asking yourself, “Where did all my money go?”—it’s time to flip the script.

That’s why I teach photographers to use the Profit First method, which is customized just for our industry. And yes, I use 10 bank accounts to do it. Not because I’m extra (okay, maybe a little), but because this system creates clarity, consistency, and cash flow.

Let’s make it simple.

Think of Your Money Like a Bag of Candy

Every time a client pays you, it’s like getting a big, shiny bag of candy (aka: cash). And instead of dumping it all into one jar and hoping you don’t eat it too fast, you divide it up into 10 jars—on purpose.

Here’s what those jars look like:

The 10 Essential Bank Accounts for Photographers

These 10 accounts are the foundation of Profit First for Photographers, giving you clarity, control, and consistency every time you get paid.

1. Income Account

This is the master inbox. Every payment from clients lands here first. You never spend from it. You transfer money from this account into the others twice a month based on your percentages. Think of it like a candy-sorting station.

2. Profit

Your reward. Even if it’s 1% to start, you always pay yourself profit first. This builds a habit of abundance and long-term sustainability.

3. Owner’s Pay

Your personal paycheck. Rent, groceries, date nights, dog food—it all comes from here. If you’re working full-time in your business, this is non-negotiable.

4. Taxes

Your sleep-easy account. You’re not sweating tax season anymore because you’ve been setting aside 15–20% all year long.

5. Operating Expenses (OpEx)

This covers your business bills—gear, editing software, gallery hosting, CRM tools, training, subscriptions, team help. If it costs money to run your business, it comes from here.

6. Marketing

Most photographers underspend on visibility. You can’t grow what people can’t find. This account is specifically for your brand-building and lead generation: SEO, styled shoots, Facebook ads, emails, etc.

7. Sales Tax

This account is a must if you live in a state that collects sales tax. You’re just holding that money until it’s due—it’s not yours to spend. Keep it separate.

8. Business Growth

Dreaming of adding an associate, opening a new studio, or rebranding? This is your slow-burn growth jar. Fund future expansion here—without touching OpEx or Profit.

9. Equipment

Lenses break. Cameras age. And you know you want that new Sigma. This account makes sure you’re never blindsided by repair costs or underprepared for upgrades.

10. Drip Account

Photography is a seasonal rollercoaster. This account smooths the ride. Big month? Hold some income here and “drip” it into Owner’s Pay or OpEx during slower months. Consistency = calm.

How Profit First for Photographers Works (in Baby Steps)

Step 1: Open 10 Bank Accounts

Yes, really. It sounds wild, but it works. This isn’t about being “extra”—it’s about creating clarity. When your money has a job, it stops disappearing on you.

Step 2: Every Time You Get Paid, Split It

Start with these baseline percentages (and adjust as your business grows):

  • Profit: 5%

  • Owner’s Pay: 50%

  • Taxes: 15%

  • Operating Expenses (OpEx): 19%

  • Marketing: 3%

  • Business Growth: 2%

  • Equipment: 1%

  • Sales Tax: Varies (only if you collect sales tax)

  • Drip Account: Use as needed for income smoothing

  • Income Account: Just a temporary holding zone for sorting

Real-Life Example

Let’s say you get paid $1,000 for a client session. Here’s how that breaks down:

  • $50 → Profit

  • $500 → Owner’s Pay

  • $150 → Taxes

  • $190 → Operating Expenses

  • $30 → Marketing

  • $20 → Business Growth

  • $10 → Equipment

  • Sales Tax? That goes into its own account (amount depends on your state)

  • Anything left over for drip income? Allocate that intentionally to cover slow months

Now, instead of one big, messy jar of money… You have a clean, purpose-driven plan. Every dollar has a job. Every jar has a boundary. And you have breathing room.

Why Profit First for Photographers Works

  • No more financial guesswork

  • Built-in savings for growth, gear, and slow seasons

  • Confidence at tax time

  • Clear boundaries around spending

  • And yes… consistent, guilt-free paychecks

Ready to Build a Profitable Photography Business You Actually Love?

You don’t need a degree in accounting. You need a system that makes sense for your industry. I specialize in helping creative entrepreneurs implement Profit First for Photographers in a way that works for their unique season and goals. Together, we set up these 10 accounts and build a cash flow strategy tailored to their real lives, not some generic business textbook.

👉 Book your complimentary consult call at one21accountability.com

Let’s take the chaos out of your cash flow and put peace (and profit) back in your business.Candy

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