Interested in Professional Artist Tax Deductions? On this page, we have collected links for you, where you will receive the most necessary information about Professional Artist Tax Deductions.
https://www.nolo.com/legal-encyclopedia/tax-deductions-artists.html
If you're a professional artist, there are many deductions you can take to reduce your taxable income for the year, and thereby reduce your taxes. Such deductions are quite valuable--for example, if you're in the 22% tax bracket, each $100 in deductions saves you $22 in income tax.
https://www.hurdlr.com/resources/industry/artist
Interest expenses you incur as an artist may be tax deductible. This includes your studio and any other expenses your business may have.
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:
https://www.freelancetaxation.com/deductions-artists
Artists: Use this list to help organize your art tax preparation. This is a basic list of typical expenses incurred by artists. You may have others. 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 […]
https://www.artworkarchive.com/blog/the-artist-s-guide-to-tax-deductions
If you have a studio outside of your home, the total rent and utilities are fully deductible business expenses. For those that have an art studio in your home that is used exclusively for your art business or making art, you can deduct a portion of your monthly overall expenses for that space.
https://turbotax.intuit.com/tax-tips/self-employment-taxes/the-musicians-guide-to-taxes-top-tax-deductions/L3dFXFokF
Launching and maintaining your music business usually involves paying some basic business expenses, and you can deduct these on your tax return. Note that expenses related to a home studio are deductible, as are: the costs associated with registering for a business license
https://www.etax.com/blog/2015/07/19/deducting-expenses-as-a-professional-painter/
Jul 19, 2015 · Self-employed painters have to pay self-employment tax as indicated on Schedule C, and you should be prepared to make estimated tax payments if needed. You can reduce your tax liability by deducting necessary work related expenses. You can claim expenses as miscellaneous Itemized Deductions, taken on Schedule A.
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