Ran across this excellent article, not only does it apply to photographers but to all sorts of artists out there.  If you make money then you should really read the rest of this article, here’s a blurb:

So you’ve hired a logo designer, bought a .com – what’s next? While I don’t recommend those things being your first call to action in starting your “business” – determining what business designation you choose is a very important first step. There’s no magic answer here. Everyone’s situation and where they operate their business can impact the choice they make. Ultimately, it is a balancing act of the tax and legal benefits against your cost of maintaining and incorporating your business.

Sole Proprietor – DBA (Doing Business As) – most photography businesses are established as sole proprietors. In fact…

Click Here to read the rest of the article, trust me, if you’re new to the business world then it is definitely worth it.