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https://www.nolo.com/legal-encyclopedia/tax-deductions-artists.html
All such artists are operating pass-through businesses. The Tax Cuts and Jobs Act established a brand new deduction that allows owners of pass-through businesses, including artists, to deduct an amount equal to up to 20% of their net income from the business. This is in addition to all their other art business deductions.Estimated Reading Time: 7 mins
https://voidacademy.com/a-simple-tax-guide-for-artists/
Jan 31, 2018 · You will be asked to qualify your art income as either a hobby or a business. You can check out the leading questions the IRS provides for this decision here. Standard Deduction vs. Itemized Deduction. Oh, deductions! The joy! A tax deduction arises due to various types of expenses you’ve had throughout the year.Estimated Reading Time: 7 mins
https://www.jacksonhewitt.com/tax-help/tax-tips-topics/employment/job-specific-deductions/performance-artist/
Feb 21, 2021 · Promotional expenses such as business cards, audition tapes, professional publicity photos, resumes, portfolios, and website development costs. Amounts paid to others such as pay for a personal assistant, agent or manager commissions, and …
https://www.freelancetaxation.com/deductions-artists
Tax Deductible Expenses for Artists Art supplies Books, magazines, reference material Business gifts Business insurance Business meals Cabs, subways, buses Copying, printing Cultural events/ museum entrance fees Entry fees Equipment and software Film & processing Framing Gallery fees Gas …
https://www.artistsnetwork.com/art-business/tax-deductions-for-artists-art-business/
Apr 06, 2015 · Leonard D. Duboff’s Answer: All of the ordinary and necessary expenses you incur in connection with your art business are deductible, though, if you’re engaged in a hobby rather than a business, you can take deductions only to offset income from your art hobby. Either way, potential deductions include the following: • art equipment, such as easels, cameras, light fixtures and kilns • …Estimated Reading Time: 3 mins
https://thecreativeindependent.com/guides/a-smart-artists-guide-to-income-taxes/
Mar 14, 2019 · Why tax planning matters Tax rates, brackets, and deductions 101 The tax advantages of treating your art like a small business How to qualify as a business for tax purposes Tax form 101 What you actually need to complete your taxes A few notes on income sources: W-2 vs 1099-MISC vs 1099-K How to make tax time easier Artist-specific tax ...
https://www.artsy.net/article/artsy-editorial-7-things-artists-filing-taxes
Mar 19, 2019 · Like other professionals who work in a freelance capacity, artists typically earn untaxed income that they must report to the IRS—and if the artist had a clear intent to make a profit, their practice is considered to be a business.Estimated Reading Time: 7 mins
http://www.artstaxinfo.com/artists.shtml
The artist usually files a "Schedule C" as part of their regular 1040 income tax form, which is where you report your art income and expenses. The artist may file a form 8829 for the home office (studio) deduction and will also be required to pay self-employment tax (Schedule SE) on your net income (profit) as well as federal income tax.
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